EasyJet revises guidance upwards

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By TESTCustomwebLP TESTCustomwebLP September 8, 2015 19:34

EasyJet revises guidance upwards

easyJet is expecting to deliver a £675-700 million ($1.03-1.07 billion) pre-tax profit for 2015. The UK low-cost carrier was previously expecting a pre-tax profit of £620-660 million. easyJet has seen stronger than expected unit revenue performance for August and in its outlook for September, supported by the success of its ongoing digital and revenue initiatives, capacity growth across easyJet’s short-haul network of around 6% and with particular strength on UK beach routes.

easyJet’s load factor for August 2015 was 94.4%, a new record for the airline for any month. Passenger numbers for the month were 7.06 million, which is also a record for the Group and is the second successive month of over 7 million passengers.

“This strong revenue performance has more than offset the significant cost headwinds that the business has faced this year, with greater-than-expected disruption across the network particularly in April, the impact of the two fires at Rome Fiumicino airport, the one-off £8 million settlement with Eurocontrol and costs associated with higher load factors. Fuel and currency exchange rate movements remain broadly within previously communicated ranges1. Consequently full year profit before tax guidance is now expected to be in a range of £675 million to £700 million for the year to 30 September 2015, from £620 million to £660 million as previously guided,” the airline revealed in a press release.

“These figures demonstrate the strength of easyJet – with its strong customer focus and its unique and winning combination of the best route network connecting Europe’s primary airports, with great value fares, friendly service and industry leading digital innovations,” said Carolyn McCall, easyJet Chief Executive. “This platform meant that easyJet was best placed to maximise the strong late summer demand from UK passengers to get away to beach and city destinations across Europe and will enable the airline to set new records for full year revenue and profit.”

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By TESTCustomwebLP TESTCustomwebLP September 8, 2015 19:34