Sabena 690
Topic Author
Posts: 6065
Joined: Sat Feb 02, 2002 12:48 am

Virgin Express Second Quarter Profit

Tue Sep 03, 2002 10:22 pm

European low cost airline Virgin Express saw its second quarter profits surge by
33 per cent compared to last year and is forecasting a continued improvement in
its fortunes.

Details: http://news.airwise.com/display/story.html?name=2002/09/1031054204.html

How do you guys see the future for VEX, now that the contract with SNBA will be ended, in March 2003?

Regards,
Frederic
 
backfire
Posts: 3467
Joined: Fri Oct 06, 2006 8:01 am

RE: Virgin Express Second Quarter Profit

Tue Sep 03, 2002 10:53 pm

Profit my foot. Nice bit of spin by the VEX PR people. Look at the operating figures for the first half -- a loss of 3.8m euros, far worse than last year. True, there's a profit in the second quarter but it's way down on 2001.

Never mind the net profit. If your operating figures aren't in the black then sooner or later you're gonna run out of money.
 
Sabena 690
Topic Author
Posts: 6065
Joined: Sat Feb 02, 2002 12:48 am

RE: Virgin Express Second Quarter Profit

Wed Sep 04, 2002 6:06 pm

Thanks for your reply, Backfire!

Any comments on how VEX will be, after the contract will be ended with SNBA in March 2003?

Some people say that the routes they fly on code share with SNBA, are the only profitable routes for VEX.

I don't have figures about this, and cannot confirm this. Maybe someone else can?

Regards,
Frederic
 
airblue
Posts: 1785
Joined: Sat May 19, 2001 9:16 pm

RE: Virgin Express Second Quarter Profit

Wed Sep 04, 2002 6:15 pm

I'm very surprise they post a profit!!

The only time I booked a flight with them, LIN-CPH via BRU I flew one segment with AZ and one with SNBA.
 
Sabena 690
Topic Author
Posts: 6065
Joined: Sat Feb 02, 2002 12:48 am

RE: Virgin Express Second Quarter Profit

Wed Sep 04, 2002 6:22 pm

On AZ? Is VEX putting pax from their LIN flight on AZ? Was the VEX flight overbooked maybe?

That you flew SNBA to CPH has to do with their code share agreement.

Regards,
Frederic
 
Established02
Posts: 528
Joined: Mon Jan 14, 2002 4:30 am

RE: Virgin Express Second Quarter Profit

Wed Sep 04, 2002 7:54 pm

I read in http://www.lesoir.be/articles/a_02DCB2.asp that VEX's cost per available seat kilometer has been reduced -compared with Q2 of 2001- with 15% to 6,28 euro cent.

VEX is somehow positioning itself as a low cost / low fare airline alike FR and EZY.
What are the costs per ASK of those other low cost carriers?
What are about the costs per ASK of SNBA, KLM, LH and other full service companies?

Thanks
 
myself
Posts: 206
Joined: Sat Feb 17, 2001 10:04 pm

RE: Virgin Express Second Quarter Profit

Thu Sep 05, 2002 2:39 am

is fairly easy to calculate, just read the annual report with a calculator at hand.