Vueling reports net loss in 1Q2012

Vueling reports (10-May-2012) the following financial highlights for the three months ended Mar-2012:

• Total revenue: EUR168.5 million, +32.5% year-on-year;
  • Ticket: EUR150.8 million, +36.2%;
  • Ancillary and other: EUR17.7 million, +7.4%;
• Costs: EUR144.8 million, +27.3%;
  • Fuel: EUR57.2 million, +38.4%;
• EBIT (loss): (EUR26.8 million), compared to a loss of EUR35.2 million in p-c-p;
• Net profit/loss: (EUR16.5 million), compared to a loss of EUR23.2 million in p-c-p;
• Revenue per ASK: EUR5.70 cents, +18.8%;
• Cost per ASK: EUR6.61 cents, +7.9%;
• Passenger numbers: 2.6 million, +24.1%;
• Load factor: 76%, +7.3 ppts. [more - original PR]

Vueling: "During 2012 Vueling expects to increase capacity by (20-25)%, keeping unit costs excluding fuel at similar levels to those of 2011. Also, the company plans to reach new Interline agreements with other airlines and continue improving products and services for business passengers. As far as the risks, Vueling expects that high oil prices will continue and that the domestic demand will remain weak. Another element of risk is the proposed increase in passenger airport taxes in AENA airports, which is likely to have a negative impact on demand." Source: Company statement, 10-May-2012.