Posted on: 28 February 2012 by Mark Howells
Vueling achieved a net profit of €10.4 million in 2011, its third consecutive year in profit, despite an almost 40% increase in the price of fuel last year, although it was down by 77.4% from €46 million in 2010.
Total revenues reached €863.5 million, an increase of 8.4% compared with the revenues achieved in 2010. The airline puts the revenue increase down to a combination of improved unit revenues and increased capacity. Accordingly, revenues per available seat kilometre (RASK) were 2.8% higher than the previous year at 6.03 eurocents.
Fuel costs continued to climb, reaching a 38% increase for the full year 2011 compared with 2010. The fuel cost per available seat kilometre increased by 30.6%, which is lower than the 40.3% rise in the fuel price. Other costs grew in line with the increase in activity levels, resulting in a cost per available seat kilometre excluding fuel of 4.18 eurocents.
The airline’s net cash position amounted to €246.5 million as of 31 December 2011, €39.5 million more than at the end of 2010. Therefore, the company maintains a solid financial position with no financial debt.