MEXICO CITY (Reuters) -Mexican low-cost airline Volaris expects the country to regain its U.S. aviation rating by the last quarter of 2023, it said in a presentation published ahead of its investors' day on Tuesday.
The airline said in the presentation it had planning in place to move should Mexico recover the U.S.-issued Category 1 rating earlier, noting that Mexican government authorities had forecast that it could recover the rating as soon as April.
The U.S. Federal Aviation Administration (FAA) downgraded Mexico's aviation safety rating in May 2021, saying it fell short of regulating its air carriers "in accordance with minimum international safety standards."
The move bars Mexican carriers from adding new U.S. flights and limits the ability of airlines to carry out marketing agreements with one another.
In October, Mexico's foreign ministry said it aimed to complete an action plan in December as part of its bid to recover the rating.
It added the FAA officials are set to visit Mexico and schedule a final audit date in January.