Loading
24-Feb-2011 12:39 PM

Vueling 4Q2010 profits down

Vueling revenue up 4% - financial highlights:

  • Three months ended 31-Dec-2010:
    • Revenue: EUR167.0 million, +4% year-on-year;
      • Ancillary: EUR22.6 million, +14%;
    • Costs: EUR124.0 million, +9%;
      • Fuel: EUR45.2 million, +45%;
    • EBIT* (loss): (EUR7.5 million), compared to a loss of EUR500,000 in p-c-p;
    • Net profit (loss): (EUR4.4 million), compared to a loss of EUR13.0 million in p-c-p;
    • Passenger numbers: 2.5 million, +3%;
    • Load factor: 71.7%, +1.9 ppt;
    • Average fare: EUR58.06, -1%;
    • Revenue per ASK: EUR 5.38 cents, +5%;
    • Cost per ASK: EUR 5.62 cents, +9%;
    • Cost per ASK excl fuel: EUR 4.17 cents, stable;
    • Sector length: 887 km, -2%;
  • 12 months ended 31-Dec-2010:
    • Revenue: EUR796.5 million, +32%;
      • Ancillary: EUR93.4 million, +32%;
    • Costs: EUR538.3 million, +42%;
      • Fuel: EUR184.0 million, +76%;
    • EBIT*: EUR60.1 million, -16%;
    • Net profit: EUR46.0 million, +66%;
    • Passenger numbers: 11.0 million, +35%;
    • Load factor: 73.2%, -0.5 ppt;
    • Average fare: EUR63.71, -1%;
    • Revenue per ASK: EUR 5.87 cents, -1%;
    • Cost per ASK: EUR 5.43 cents, +4%;
    • Cost per ASK excl fuel: EUR 4.07 cents, -3%;
    • Sector length: 893 km, -1%;
    • Debt: EUR23.9 million, +85%;
    • Total cash: EUR231.0 million, +61%. [more]

*2009 EBIT are before restructuring costs

Vueling: “We will focus on improving RASK performance through increased business passenger and connecting passenger traffic and delivering profitable growth. Flights and passengers will increase by 15% (over 7.5% in organic growth),” Company statement. Source: Vueling, 23-Feb-2011.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More