Catalan airline Vueling increases its net profit by 8.4% in 2011
The Catalan airline Vueling had a net profit of €10.4 million last year, according to the company, which presented its results on Tuesday. Vueling’s net profit experienced an 8.4% increase compared to its 2010 results, despite the significant 38% price increase in fuel prices. Therefore, the Barcelona-based airline has been in profit the last three years. Vueling’ CEO, Àlex Cruz, said that the Catalan company is the only airline in Spain earning a profit, and one of only three in the entire European Union. Vueling managed to improve its 2011 net profit thanks to an 11.6% rise in the number of passengers. Those using its European routes increased by 9%, while the number of passengers from the Spanish market grew by 6%. Vueling was Barcelona El Prat Airport’s top airline for passenger figures in 2011. Its turnover reached €863.5 million, which is 8.4% more than 2010. Vueling’s occupancy rate improved by 2.4 percentage points in 2011, from 73.2% in 2010 to 75.6% in 2011. Vueling transported a total of 12.32 million passengers, which represented a new record for the Catalan company.
