Easyjet makes-up ground as it narrows loss forecast

Victoria
By Victoria March 26, 2012 15:23

Easyjet makes-up ground as it narrows loss forecast

EasyJet said today that its first half loss will be lower than previously forecast as a result of improved winter weather and additional charges for baggage and other items such as speedy boarding.
The carrier said it expects to post a pretax loss of £110 million ($174 million) to £120 million in the six months to March 31. That compares to the earlier forecast of a loss between £140 million and £160 million. It credited the improvement on a 10% increase in revenue per seat, compared to the previous guidance of upper single digits. 30% of seats available in the second half are already booked, in line with last year, easyJet said.
A less severe winter in Europe contributed to a low level of cancellations, and easyJet said de-icing costs were down by £18 million during the period. The airline will report first half results on May 9.
EasyJet shares rose 7% to 493.5 pence in early trading following the update.

Victoria
By Victoria March 26, 2012 15:23
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