Vueling doubles its net profit in the second quarter and increases passenger traffic by 19%.

Wednesday 1st August 2012

Second quarter 2012 results: The company obtains a net profit of 7.7 million euros in the second quarter of the year and carries 3.9 million passengers, 19% up on the same period of last year.

Highlights

Vueling made a net profit of 7.7 million euros in the second quarter of 2012, an improvement of 115%on the same period of last year. The operating profit (EBIT) tripled compared with the previous year and amountedon 12.1 million euros.

The company increased the number of passengers carried by 18.5% compared with the second quarterof 2011. Vueling carried 3.9 million passengers between April and June and improved the load factor of its flightsto 75.5%, 2.3 pps higher than the same period of last year. The increase in connecting passengers at BarcelonaEl Prat airport contributed towards this rise in traffic. Connecting passengers at Barcelona airport doubled andreached a total of 387,000 passengers in this second quarter.

Vueling's total revenue rose by 29.2%, up to 296.9 million euros. This rise in revenue was the result bothof the improvement in unit revenue and the greater operating capacity (+21.5% of available seat kilometres). Consequently, the revenue per available seat kilometre (ASK) rose by 5.7% on last year, up to 5.70 euro cents.

With regard to costs, Vueling cut its ex-fuel unit cost by 0.3% in the second quarter. The unit cost peravailable seat kilometre (ASK) excluding fuel stood at 4.07 euro cents.

Fuel costs rose by 34.5% on last year as a result of the greater volume of activity (+21.3% of ASK) and thegreater unit fuel cost per available seat kilometre (ASK). The unit fuel cost per ASK rose by 11.8% compared withthe second quarter of 2011 as a result of the depreciation of the euro against the dollar (-11%). This increasein the unit fuel cost led to a 3.3% rise in total unit cost per available seat kilometre (ASK).

Vueling continues to strengthen its financial structure and increased its net cash balance to 368 millioneuros as of 30th June 2012, 90 million euros more than previous quarter.

www.vueling.com