easyJet books 3.4% more passengers in November
Budget airline easyJet was flying with fuller planes last month, as passenger numbers rose by 3.4%, compared with November last year.
Budget airline easyJet was flying with fuller planes last month, as passenger numbers rose by 3.4%, compared with November last year.
Some 3.82m people bought seats with the airline in November, up from 3.69m the year before.The firm's no-refund policy means that passenger figures do not include those who do not turn up for the flight.
Passenger growth had slowed from the 8% increase seen in October, when just under five million passengers booked seats with easyJet.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Nevertheless, the 12-month rolling passenger total (ending November) rose to 54.99m, 11.2% higher than at the same point in 2010.
Meanwhile, the 'load factor' - which measures the number of passengers as a proportion of the number of seats available - rose by 2.6 percentage points (pp) to 88.3% in November.
Last month, Credit Suisse raised its target price for the stock and reiterated its outperform rating, saying that the "capacity outlook inspires winter confidence".
The broker said that capacity cuts at key easyJet bases (including Stansted, Malpensa and Madrid) are encouraging on pricing developments.
"We think these cuts should continue to flow through as booking levels for weaker carriers disappoint, prompting late competitor withdrawals and attractive last minute fares for EZJ. As such, we think the current mid-single digit revenue per seat run rate seen by EZJ through winter can be exceeded," Credit Suisse said on 16 November.
BC
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published