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Vueling encouraged by first quarter 2010 results

Vueling has reported a better EBIT margin during the first quarter 2010 than in 1Q09 (–9% vs –13% respectively) and puts the improvements down to it cost reduction plan.

Vueling says it saved €9.6 million in the first quarter 2010, compared with the same period last year..

Ex-fuel CASK (cost per available seat kilometre) was 7% below than in 1Q09, consolidating the Vueling forecast of an ex-fuel CASK below than 4.0 eurocents for 1Q10.

First quarter 2010 revenues reached €141.8 million (+90% from 1Q09). The airline estimates the Easter effect (the second weekend in April 2009 compared with the first weekend in April this year) had an impact of +1% of RASK on the first quarter 2009. RASK in the first quarter of 2010 went up to 5.02 eurocents against a RASK of 4.98 eurocents in the first quarter 2009.

Vueling’s hedging policy helped to reduce the impact of the rise in fuel. Fuel CASK increased by 21% from 1.01 Euro cents in the first quarter of 2009 to 1.22 Euro cents in 2010.

CASK decreased by 2% from 2009 to 2010 (5.48 Euro cents in 2010 vs. 5.62 Euro cents in 2009). The ex-fuel CASK decreased from 4.61 eurocents in 2009 to 4.27 eurocents in 2010.

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