Vueling’s 2010 expected to beat 2009 results, but it won’t be smooth flying
Vueling maintained its guidance for an improved net profit in 2010 upon the release of its financial results for the three months ended Mar-2010 (1Q2010). This is despite the negative effects of the recent European airspace closures, which resulted in 482 cancelled services affecting 72,249 passengers, and the sovereign debt crisis enveloping Spain, Greece and Portugal. The carrier previously guided that it “expects to report even better results in 2010 than in 2009,” noting that more than 60% of the merger synergies between Vueling and Iberia’s LCC subsidiary, clickair, would be experienced in 2010.
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