Vueling announces €46m profit in 2010

Vueling has reported a net profit of €45.99 million in financial year 2010, a 66% increase on the results of the previous year’s profit of €27.78 million.

The net margin stood at 5.7%, an increase of 1.1 points over the figure of 4.6% reported in 2009.

During the fourth quarter of the year, Vueling reduced its previous year’s losses by 66%, from a deficit of €13 million in 2009 to a loss of €4.4 million in 2010. The airline says the 4Q10 results were affected by the sharp rise in the price of fuel.

The 2010 sales turnover achieved by Vueling was €796.5 million, a 32% increase on 2009. The income per unit – revenue per available seat kilometre (RASK) – was 5.87eurocents, 1% lower than that of the year before mainly due to shorter average stage lengths and the impact of the competitive environment on revenue per passenger.

Vueling carried 11,036,183 passengers in 2010, up 35% on 2009’s result. The company operated 84,435 flights with a load factor of 73%.

The costs per unit excluding fuel costs dropped by 3%, to 4.07 eurocents. Meanwhile, the unit costs of fuel increased by 32% in 2010. This affected the total unit cost, which rose to 5.43 eurocents, 4% higher than in 2009.

All data correspond to Vueling being a standalone company for the period from January to June 2009 and thereafter as the company emerging from the incorporation of Clickair on 1 July 2009.

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