Vueling Q3 net falls to 1.35 mln eur vs 5.02 mln as sales rise 49 pct UPDATE |
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Published
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Thu, 18 Oct 2007 07:51
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(updates with details on occupancy rate, unit costs, net profit decline)MADRID (Thomson Financial) - Vueling Airlines SA said third quarter to September net profit fell to 1.35 mln eur from 5.02 mln eur a year earlier.In a statement, Vueling said sales rose 49 pct to 118.4 mln eur from 79.4 mln a year earlier.The no-frills airline said the number of passengers during the period rose 83 pct to more than 2.1 mln from 1.1 mln a year earlier.Its occupancy rate rose to 84.4 pct from 79 pct.Unit costs, excluding fuel costs, fell 14 pct to 3.69 eurocents.Vueling said the decline in net profit in the third quarter was due mainly to the 'lack of maturity' of 16 new routes which came on line during the period, as well as stiff competition from traditional airlines.The airline said it forecasts passenger levels and costs to continue favourable throughout the fourth quarter.At the beginning of October, Vueling cut its full-year guidance for the second time.tfn.europemadrid@thomson.comccs/jdy/ccs/salCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Vueling says cash position over 110 mln eur; sales in line with time of year 