easyJet third quarter interim management statement highlights

Total revenue up 12% to £721million, Total revenue per seat increased by 10.9% to £51.42, an increase per seat of 4.8% on a constant currency basis, partly due to the movement of Easter from the second quarter of 2008 to the third quarter of 2009, passengers carried increased by 2.9% to 11.9million, with a 12% growth in passengers originating in mainland Europe, Draft

easyJet’s position continued to strengthen with market share gains across Europe particularly at Gatwick, Milan, Paris and Madrid, strong balance sheet with cash and money market deposits of £962million (excluding restricted cash) and un-drawn financing facilities of $0.5billion at favourable rates as at 30 June 2009, constant currency total revenue and costs ex fuel continue to perform in line with previous guidance and over 75% of available summer seats are now booked, economic conditions remain uncertain and obviously August is an important month for easyJet, it is though expected that for the year to 30 September 2009 easyJet will deliver underlying pre-tax profit in the range of £25million to £50million.

 

Commenting on the results, Andy Harrison, easyJet Chief Executive said: “This has been a resilient third quarter and our position has continued to strengthen as we made market share gains across Europe. easyJet is continuing to perform relatively well in tough trading conditions and we expect to be one of the few airlines to make a profit this year. easyJet’s fundamental competitive strengths continue to prevail; particularly the strength of our network and focus on cost reduction.”

Draft

(c) Centre for Asia Pacific Aviation. Date posted: 4-Aug-09

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