EasyJet profits projected to soar

EasyJet profits projected to soar

EasyJet expects year-end profits to soar to as much as £480 million against £317 million last year.

The forecast came as the budget carrier saw third quarter revenue rise by 10.5% to
£1,142 billion, driven by a 3.6% increase in capacity and improvement in revenue per seat.

Revenue per seat in the three months to June 30 grew by 6.1% at constant currency or by 6.7% on a reported basis to £61.44 per seat.

Passenger numbers were up by 2.6% to 16.4 million, with ancillary revenue up by 10 pence per seat to £1.06.

Business passengers grew by 4.2% in the quarter, ahead of overall passenger growth of 2.6%.

Travelport recently improved its Galileo booking system which will make it easier for agents to sell easyJet's fares to the increasing numbers of business travellers using the airline.

The airline has also secured further deals with European public sector bodies including the German government to provide access to its fares.

Chief executive Carolyn McCall said: "EasyJet has delivered a strong performance in the third quarter in a benign capacity environment.

“The strong performance demonstrates further progress against the easyJet strategy and the commitment to deliver returns and profitable growth for shareholders.

“With 73% of second half seats now booked, easyJet expects profit before tax for the year to 30 September to be between £450 million and £480 million compared to the £317 million profit before tax reported in the prior financial year, assuming no further significant disruption."


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