Spain’s Volotea grows 2018 profits on fine-tuning network, fleet
Volotea said it achieved a record operating profit in 2018 as it continues to expand in its niche sector. Volotea connects second- and third-tier European cities, cutting out major hubs and specialising in routes that are generally too thin to attract the major LCCs. The company said revenues rose 29% to E396.1m (US$441.6m) over 2017’s figure of E307.5m. Ticket revenues were up 28% at E258.4m and ancillary revenue up 31% at E137.7m. Operating profit (EBIT) was up 63% at E13.6m, compared to E8.3m in 2017. A company spokesman said that, as a privately owned company, Volotea was not obliged to provide a net profit figure, although records show that in 2017 a net figure of E11.2m was posted. The spokesman added the airline had produced a positive net profit figure since 2015. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-05-24/unaligned/spain2019s-volotea-grows-2018-profits-on-fine-tuning-network-fleet
https://portal.staralliance.com/cms/logo.png
Spain’s Volotea grows 2018 profits on fine-tuning network, fleet
Volotea said it achieved a record operating profit in 2018 as it continues to expand in its niche sector. Volotea connects second- and third-tier European cities, cutting out major hubs and specialising in routes that are generally too thin to attract the major LCCs. The company said revenues rose 29% to E396.1m (US$441.6m) over 2017’s figure of E307.5m. Ticket revenues were up 28% at E258.4m and ancillary revenue up 31% at E137.7m. Operating profit (EBIT) was up 63% at E13.6m, compared to E8.3m in 2017. A company spokesman said that, as a privately owned company, Volotea was not obliged to provide a net profit figure, although records show that in 2017 a net figure of E11.2m was posted. The spokesman added the airline had produced a positive net profit figure since 2015. <br/>
