Vueling reported a worsened operating loss in the three months ended 31-Mar-2011 to EUR35.2 million, as revenues declined by 10% to EUR127 million and costs increased 5% to EUR162 million, driven by rising fuel expenses. Vueling is however aiming to keep its cost per ASK excluding fuel at 2010 levels in 2011 by continuing with its cost reduction programme. The carrier also expects to handle 12.7 million passengers in the full year despite unplanned capacity reductions related to the high fuel costs in 1Q2011.

Vueling revenue down 10% - financial highlights for the three months ended 31-Mar-2011:

Revenue: EUR127.2 million, -10% year-on-year;
Costs: EUR162.0 million, +4.9%;
Fuel: EUR41.3 million, +20%;
Operating profit (loss): (EUR35.2 million), compared with a loss of EUR13.0 million in p-c-p;
EBIT: EUR33 million, compared to a loss of EUR13 million in 2010;
Passenger numbers: 2.1 million, -7.0%;
Load factor: 69.1%, -1.0 ppt;
Revenue per ASK: EUR 4.79 cents, -4.6%;
Ancillary revenue per passenger: EUR8, +2.5%;
Cost per ASK: EUR 6.12 cents, +11.6%;
Cost per ASK excl fuel: EUR4.56 cents, +6.8%;
Capacity (ASKs): 2,652 million, -6%.

Per: http://www.centreforaviation.com/new...ings-losses-worsen-in-1q2011/page1