Vueling posts net loss of EUR 23 million in first quarter 2011

Vueling reported a net loss of EUR 23 million in the first quarter of 2011. The result this quarter has been affected by a 41% rise in the price of fuel. Vueling achieved EUR 127 million turnover in the months from January to March 2011. The number of flights operated fell by 5% as the sharp increase in the price of fuel made it necessary to reduce frequencies so as to optimise the profitability of the operations. Revenue for the first quarter fell by 10% compared with the same period of last year.