Catalan airline Vueling made 46 million euros of net profit in 2010
Despite volcanic ash clouds and air traffic controllers’ strikes The Catalan airline increased its net profit by 66% in comparison with 2009. In 2011, the company plans to increase by 15% its number of flights and passengers.
Barcelona (ACN).- Vueling made 45.99 million euros of net profit in 2010. It represents 66% more than in 2009, when it won 27.78 million euros. In the 4th and last term of the year, the Catalan airline reduced its losses by 66%, passing from 13 million euros in 2009 to -4.4 this last year. According to Vueling, the last term\u2019s results were affected by the fuel\u2019s high cost, as it rose by 45%, while the rest of the costs decreased. The turnover figure is 796.5 million euros, 32% more than in 2009. Vueling\u2019s net cash represents 207 million euros, with a debt of 23.9 million euros. The company\u2019s total cash at the end of December 2010 was 231 million euros. In 2010, Vueling transported 11,036,083 passengers, 35% more than last year\u2019s. In addition, the company registered 84,435 flights, 35% more than in 2009. Flight occupation rate was 73%. Concretely, in the 4th term, passengers increased by 3% and an occupation rate of 72%.
According to Vueling, these figures made the Catalan airline consolidate its leadership at Barcelona\u2019s Airport, with 26% of the market share. Still according to the airline, it is the main airline at the airports of Bilbao, Seville and Ibiza. The perspectives for 2011 are growing. Vueling will enlarge its aircraft fleet, with 6 new planes to serve the company\u2019s new bases of Amsterdam and Toulouse. The new planes will also be used to increase the routes in the current markets. The company plans to increase by 15% the number of flights and passengers.
As fuel is expected to be more expensive in 2011, Vueling is performing a cost reduction effort to compensate. Furthermore, it may be forced to increase its tariffs. The company plans to keep its 2010 cost per passenger and kilometre offered, which is 5.43 euros.