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Vueling reports first ever profit in 2008, ahead of clickair merger

20-Mar-2009

Vueling provided an upbeat outlook for 1Q09, based on lower fuel prices and an expected increase in revenue per flight, after posting its first net profit of EUR8.5 million in 2008, aided by a EUR47 million tax credit on losses incurred since its launch in 2004. The profit compared to a EUR78.5 million net loss in 2007 and is a significant achievement for the LCC, especially in the current operating environment. [2555 words]

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Subheadings:

  • Reports positive EBITDAR in 4Q08
  • Revenue reduction in 4Q08, on operational scale back
  • Unit revenues shine: Fare and ancillary revenues per pax see healthy increase
  • Overall costs reduced by a quarter in 4Q08; unit costs increase slightly
  • Network and fleet reductions enacted
  • Reports improved load factors on capacity reductions in Feb-2009
  • Improvement Plan shows signs of success
  • Vueling-clickair merger continues to progress
  • Expects 1Q09 to be "very positive"; hoping to bring first-ever profit to merger table

Graphs and data:

  • Vueling financial highlights for three months ended 31-Dec-08
  • Vueling financial highlights for three months ended 31-Dec-08
  • Vueling revenue highlights for three months ended 31-Dec-08
  • Vueling expenses: 2007 vs 2008 and 4Q07 vs 4Q08
  • Vueling unit costs: Cost per ASK; Cost per ASK excluding fuel; Fuel cost per ASK: Jan-2008 to Dec-2008
  • Sample LCC unit cost (per ASK; USD cents)
  • Average number of aircraft in operation: 1Q07 to 4Q08
  • Vueling fleet reductions/increases (quarter end): 1Q07 to 4Q08
  • Barcelona-Madrid capacity (seats) share
  • Vueling four strategic pillars
  • The airlines involved in the formation of Neuve Vueling
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