Vueling had a net profit of €10.4 million last year. This marks a clear improvement of 8.4% on its results from 2010 despite the 40% price increase in fuel. Vueling transported 11.6% more passengers in total, and 9% through its European routes last year. The Catalan company reached in 2011 its passenger record, with more than 12.3 million people transported.
The Catalan airline has a debt of €474 million; €260 million of which is with its shareholders and the remaining €214 millions with providers, airports and social security. The Catalan Government has invested €140 million in the airline, split in loans given to the company and in Spanair’s capital. Spanair stopped all its activity on Friday evening because it could not find any additional funding. All the more than 12,000 Spanair passengers passing through Catalonia over the weekend found an alternative flight using other airlines.
Due to the impossibility of finding extra capital, the Barcelona-based airline’s board has taken the decision to cancel all its flights and to suspend the company’s activity. Negotiations with Qatar Airways broke down, which forced Spanair’s board to analyse the company’s viability. The Catalan Government, which partially owns the airline, has refused to invest more money in the company, and thus Spanair stopped flying. Passengers will be refunded and will be able to buy discounted tickets with other airlines.
Emirates have announced they will link Barcelona with Dubai with a daily flight commencing in July. Furthermore, Spanair have announced connections with Beirut and Moscow, as well as more flights with Germany, France, Croatia and Serbia.
The Catalan airline will invest €325 million in increasing the number of destinations and frequency of its flights from Barcelona El Prat Airport. Vueling will base 28 planes at Barcelona, after having bought 5 new aircraft. These initiatives demonstrate that Vueling continues with a strategy to consolidate Barcelona Airport as “a true hub” for intercontinental flights. The Catalan airline expects that up to 2 million of its passengers will change flights at Barcelona.
The Barcelona-based airline’s operational benefit reached almost €61 million, which represents a 2% increase compared to the same period last year. Despite the oil price increases, the company maintains its benefits thanks to the high occupancy rate of its flights (more than 80%) and the activity at its international bases.
The Catalan low cost airline, which is based in Barcelona, has announced new destinations from Barcelona, as well as an increase in frequency on other routes. Vueling’s President, Josep Piqué, presented the airline's latest news for next season. He also said that a low cost airline like Vueling is the only airline capable of stopping Ryanair’s expansion in Barcelona, in a clear reference to Spanair.
The Catalan airline wants to consolidate its hub at Barcelona Airport. Spanair, partially owned by the Catalan Government, plans to transform Barcelona El Prat into an international hub in its own right.
The airline Vueling, which has its main base at Barcelona’s El Prat Airport, has a network of permanent operating bases, to which Paris Orly will be added if French authorities give the green light. Vueling’s Chairman, Josep Piqué, announced that a minimum of six planes will be based at France’s second airport. Across the 21 routes it has in France, the airline estimates that it will carry 26% more passengers in 2011 when compared to last year.
Despite volcanic ash clouds and air traffic controllers’ strikes The Catalan airline increased its net profit by 66% in comparison with 2009. In 2011, the company plans to increase by 15% its number of flights and passengers.
It is a record figure for the company and represents a 35 percent increase in passengers since 2009. Vueling plans to offer 10.5 million seats for the 2011 summer season, almost 7% more than the same period in 2009. The company plans to open new bases in Amsterdam and Toulouse to foster its international growth.
In July, more than 1.1 million passengers travelled with the low-cost airline, which represents a significant increase since the company merged with Clickair