EasyJet announces improved winter trading

EasyJet announces improved winter trading

Favourable quarterly exchange rate movements and lower fuel costs have helped boost easyJet’s winter performance.

The budget carrier said it had a good first half of the year and second half bookings are in line with last year.

The airline now says its pre-tax result for the six months to March 31 could improve to a loss of £5 million and a profit of £10 million from previous guidance of a loss of between £10 million and £30 million against a loss of £53 million in the same period a year earlier.

“However, further volatility around currency rates and the oil price is likely to continue into the second half,” the carrier cautioned in a trading statement this morning.

Exchange rate movements are likely to have around a £20 million favourable impact in the six month period, primarily due to the recent weakening of the euro against sterling, the airline said.

The airline’s fuel bill is also expected to be £35 million lower and between £90 million and £120 million more favourable in the year to September 30.

Chief executive Carolyn McCall said: “EasyJet has performed well in the first half of the year and has continued to deliver its strategy of making travel easy and affordable for passengers.

“We continue to expect that lower fuel costs will be beneficial for our customers as fares adjust. EasyJet continues to be well positioned to deliver sustainable returns to shareholders due to its compelling network, low cost base and strong balance sheet.”

Further details on its performance in the six months to March 31 are promised when the airline publishes its half year results on May 12.

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