Vueling new Chairwoman to change 'low-cost' profile and increase tariffs
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Continental Europe,
Vueling
(AFX) Vueling Airlines is seeking to increase tariffs and attract more business clientele in order to become more profitable, Cinco Dias reported, citing comments by new Chairman, Barbara Cassani.
In an interview with Cinco Dias, Cassani said Vueling "should work on increasing tariffs, which are very low."
She said tariffs "must reach a level that allows us to make money," noting that with current prices, "there's not enough money to cover the cost of the flight."
Ms Cassani was named new Chairwoman following the resignation of four board members, including that of Chairman, Jose Miguel Abad Silvestre, who represented Grupo Planeta. Grupo Planeta, which holds a 15.87% stake in Vueling through the Lara family's investment vehicle, Inversiones Hemisferio, is reportedly mulling a bid for Iberia Lineas Aereas de Espana SA with Air France and Juan Abello's Torreal investment vehicle.
However, Cinco Dias quoted Cassani as saying Vueling "has a good relationship with Inversiones Hemisferio and we would like them to stay in the project".
The newspaper quoted other unnamed industry sources as saying that the investment vehicle's exit from the group is not seen as imminent.
Date posted: 27-Sep-07
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Vueling new Chairwoman to change 'low-cost' profile and increase tariffs 
