United Kingdom
United States
Asia Pacific
VLM declares eighth straight year of profit
VLM Airlines saw 2005 after tax profits rise by 43% to €1.35 million – its eighth consecutive year in the black.
Operating profits rose 42% to €2.5 million for the same period, with revenue higher than forecast, at €88.5 million compared to €75.6 million the previous year.
At the end of the financial year, the airline’s cash balance stood at €6.9 million – an increase of over 200% from the previous year.
VLM, which runs an extensive network from London City Airport, carried 625,300 passengers in 2005 on its scheduled and charter services, an increase of 12% year-on-year.
On-time performance improved, with 91.7% of flights arriving and departing on time in 2005, compared to 89% in 2004.
VLM started routes from London City to Amsterdam and the Isle of Man last year and increased frequencies to Rotterdam and Manchester. The Amsterdam weekday frequency has now doubled to six return flights.
Chairman Jaap Rosen Jacobson said: “These are positive results, but we are eager to achieve more. We plan to deliver more frequencies, more routes, more service and more innovation. This year, we will continue to invest in the wide range of products and services for our passengers.”
He added: “This success has been inspired by our company’s clear strategic view and strong service culture, which is implemented by our skilled staff and management across all aspects of our business. This has translated into our strategy of focussing on the needs of our passengers, and putting our core competences into practice.”
Report by Phil Davies
Related News Stories:
Phil Davies
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled