Search

Stansted: Budget carrier easyJet trims forecast for first-half loss

15:09 25 March 2014

Low-coast airline easyJet is on course for a lower than previously expected deficit in its traditionally loss-making first half.

Low-coast airline easyJet is on course for a lower than previously expected deficit in its traditionally loss-making first half.

Archant

Low-cost airline easyJet said today that it is now on course for a smaller than previouslyexpected loss this winter.

The Luton-based carrier, which is also a major operator at Stansted, has benefited from improved revenues trends and benign weather, which reduced levels of de-icing and disruption.

It now expects losses of between £55million and £65m for the six months to March 31, compared with guidance in January of £70m to £90m and a loss of £61m in the same period a year ago.

Chief executive Carolyn McCall said the performance showed the company’s structural advantage in the European short-haul market against both established carriers and low-cost competition.

She added: “Our strategy of offering our customers low fares to great destinations with friendly service and a focus on cost control ensures that we can continue to deliver sustainable growth and returns for our shareholders.”

Revenues per seat are expected to be 1.5% higher in the six months, driven by allocated seating, digital initiatives and longer average flights.

Costs per seat growth is likely to be around 0.5%, which is better than the guidance of 1.5% issued at the end of January.

Profits at easyJet in the last financial year to September 30 jumped 51% to £478m, with ongoing efforts to attract more business travellers meaning it flew more than 60m passengers in a year for the first time.

Search hundreds of local jobs at Jobs24

0 comments

HOT JOBS

Show Job Lists

Insight

Construction workers at work. Picture: Jonathan Brady/PA Wire

A construction sector already struggling to meet rising housing demand has been dealt a further blow – after slipping into recession for the first time in four years.

Pay among FTSE100 chiefs rose by 10pc in 2015. Picture: Chris Radburn/PA Wire

It seems that wages only ever go in one direction - at least for those at the top.

Green 100

cover

Enjoy the Green 100
digital edition

Read

Mustard TV

Meet the Team

Mark Shields

Business Editor

|

Chris Hill

Agricultural and Farming Editor

|

Business Most Read

Awards

Norfolk Future 50 EDP Business Awards Green 100

Business Most Commented

Newsletter Sign Up