Triple profits made at Vueling

Vueling tripled its net profits in 2012 at EUR28.3 million (GBP24.3m), its fourth consecutive year.

The airline saw profits soar 173% in 2012 compared to 2011 after doubling its services from Barcelona El Prat airport and going through a rebrand late last year.

Its European markets have helped balanced out the 10% drop in Spanish domestic travel, with more flights to be added this summer from the UK and elsewhere. Half its passengers are now non-Spaniards with the carrier also seeing an increase in connecting customers and plans to expand this going into 2013.

The Spanish airline carried 20.1% more passengers to 14.8 million with load factors at 77.7%.

In 2013 the carrier is to increase its fleet to 70 aircraft; will announce new airline partnerships and plans to launch more products aimed at business travellers including a new cabin configuration and WiFi onboard.

British Airways’ parent company IAG owns 46% of Vueling and is in the process of bidding to completely takeover the carrier. IAG is keen to utilise Vueling’s Barcelona base to fuel its expansion plans as space at Heathrow remains tight and Iberia battles with debts and strikes.

By Amanda Greenwood, 27 February 2013, Wednesday 12:06 PM