Member Article

Late bookings and beach holidays boost easyJet

Easyjet have announced strong performance following the Olympics, as late bookings boosted revenues.

Late summer demand was better than expected, and the firm said they benefited from minimum disruption over the summer period.

The Board’s revised expectation for pre-tax profit for the 12 months ending September 30 is now between £310m and £320m compared with the previous expectation of pre-tax profit of £280m to £300m.

Carolyn McCall, easyJet’s Chief Executive said: “easyJet has had a strong summer performance, which has enabled us to deliver another good year of returns and growth for our shareholders.

“Strong post Olympics trading and a benign operating environment along with the continued strict allocation of capital and aircraft across our leading network, improvements in revenue management and marketing, and a tight control of costs has meant that easyJet will deliver higher returns and its highest ever pre-tax profit for the financial year ending 30 September 2012, despite absorbing an additional £230 million 3 in fuel costs this year.

“We also continue to deliver for our customers with the best on-time performance in Europe this summer, low fares to convenient airports across Europe and our recently announced launch of allocated seating across the easyJet network.”

Looking to the future, easyJet suggested unit airport costs were expected to increase by £80m for the 2013 financial year, due to significantly above inflation rises in charges at regulated airports in Spain and Italy.

This was posted in Bdaily's Members' News section by Tom Keighley .