Vueling FY net loss widens sharply as fares fall, fuel costs rise
Tags :
Continental Europe,
Vueling
(XFN Asia) Vueling Airlines reported its full year net loss widened sharply as strong competition in the sector forced the Spanish low cost carrier to cut fares while its fuel costs rose.
In an initial statement from bourse regulator CNMV, Vueling stated net losses widened to EUR81.3 million from 7.5 million a year earlier. However, in a later presentation from the carrier, net losses widened to EUR63.2 million from 10.8 million. The reason for the difference has not been disclosed.
Other financial results include:
• Full year revenues: increase to EUR362.7 million from 235.5 million;
• Passenger number: increased 77.2% to 6.22 million;
• Revenue per passenger: fell 13.2% due to fierce competition in the market, which has driven fares down;
• Average base fare per passenger: fell 20.8% to EUR37.7;
• Load factor: improved to 73% in 2007 from 69.4% a year earlier;
• EBITDAR: Loss of EUR5.0 million in 2007 from a EUR28.0 million profit a year earlier.
Date posted: 26-Feb-08
Other Vueling News |
Vueling FY net loss widens sharply as fares fall, fuel costs rise 
