Controladora Vuela Shares Rally 16% On Airline Group Deal Speculation

(RTTNews) - Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (VLRS) shares surged 15.75 percent, or $1.31, to $9.63 on Friday, possibly extending gains following news that Volaris and Grupo Viva Aerobus agreed to form a new Mexican airline group under a holding company structure aimed at expanding low-fare travel and connectivity within Mexico and internationally. The stock was last trading at $9.63, compared with a previous close of $8.32 on the New York Stock Exchange. Shares opened at $8.99 and traded between $8.97 and $9.99 during the session. Volume reached 1,688,772 shares, well above the average volume of 504,912, indicating heightened investor interest. Controladora Vuela Compañía de Aviación is now trading at the top of its 52-week range of $3.49 to $9.99.