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Steve Trent

Managing Director and Senior Equity Analyst at Citi

Steve Trent is a Managing Director and Senior Equity Analyst at Citi Research, specializing in coverage of the Americas Airlines and Latin Transports sectors with a history of also covering Latin America cement and construction. He has covered major carriers and transport firms throughout the Americas, achieving repeated recognition as the #1 ranked Airline stock picker by StarMine in 2020, multiple Institutional Investor rankings including Runner-Up in the Latin America transport sector from 2018 to 2021, and a #3 ranking in the II All Brazil poll for transports in 2007. Steve began his career at Banc of America Securities before joining Citi in 1999, and has received several top-five industry survey rankings, such as #1 and #2 in the Greenwich Survey for Latin America transportation. He holds an MBA from the Tuck School of Business at Dartmouth College and graduated magna cum laude with a BA from the University of Pennsylvania.

Steve Trent's questions to Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS) leadership

Steve Trent's questions to Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS) leadership • Q2 2025

Question

Steve Trent from Citi asked about the potential financial impact of the 2026 World Cup and whether the potential cancellation of a competitor's joint business agreement by the US DOT could create an opportunity for Volaris.

Answer

EVP Holger Blankenstein identified the World Cup as a tailwind, noting Volaris's strong connectivity to host cities and the possibility of using external lift. President & CEO Enrique Javier Beltranena Mejicano expressed confidence that the U.S. and Mexican governments will reach a mutually beneficial agreement on the regulatory matter, stating it is not a Category 2 downgrade situation.

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