easyJet’s profit expectation dips
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easyJet disappointed markets yesterday by announcing results short of expectations.
The budget carrier expects annual profit growth forecast of 14-19% for the year after posting pre-tax profit for the 12 months to the end of September ranged from GBP545m-570m taking situations in Israel, Egypt and Moscow into account, while Thomson Reuters had previously predicted GBP569m.
Revenue per seat in the quarter ending 30 June was up 1.7% on a reported basis, driven by Easter moving into its third quarter and online and brand initiatives.
During the period its capacity increase 6.8% predominantly from Gatwick after acquiring the Flybe slots, with load factors up 2.2% to 90.4%. The airline carried 17.9 million passengers in the three months, up 9.4%.
Carolyn McCall, easyJet chief executive said: “easyJet has again delivered a solid performance in the quarter. We will continue to invest in building leading network positions and this combined with a compelling customer proposition, low cost base and strong balance sheet leaves easyJet well positioned to continue to deliver sustainable growth and returns.”
She added 77% of its second half seats are now booked.
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