EasyJet hits over two-month peak on firm outlook

Thursday, 18. July 2019 11:09

EasyJet Airline Co. Ltd.'s revenue grew by 11.4% to £1.76 billion in its third fiscal quarter through June. The airline boosted passenger revenue by 10.7% to £1.39 billion while ancillary turnover jumped 14.3% to £374 million. The capacity was lifted 10% to 28.8 million seats and the number of passengers surged 8% to 26.4 million. Shares jumped 3.29% to 1,068.5 pence at 10:54 am CET after touching 1,078 for the first time since May 8 as easyJet Plc affirmed its outlook.

Chief executive Johan Lundgren cited "tougher macroeconomic conditions" but highlighted Easter performance and late yield as underpinning revenue per seat. "Our customers experienced significantly reduced cancellations and long delays largely as a result of our investment in operational resilience, which also contributed significantly to driving down cost per seat ex fuel at constant currency by 4% in the period... We remain very focused on delivering our revenue initiatives and driving costs down to enhance our profitability per seat," he said.

The low tariff carrier based in London Luton Airport announced it hired Peter Bellew as head of operations, snatching him from Ryanair Holdings Plc. Earlier it said it would fly a record 312,000 passengers at peak travel day tomorrow and reach an all-time high 9.4 million passengers from today through September 8.

Related Links: Ryanair Holdings plcRyanair Holdings plceasyJet plc
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