easyJet revenue surges 16.7%
Budget airline easyJet reported a 16.7% increase in revenue for the quarter ended 31 December 2011, helped by higher seat prices and the absence of disruptive winter weather.
Budget airline easyJet reported a 16.7% increase in revenue for the quarter ended 31 December 2011, helped by higher seat prices and the absence of disruptive winter weather.
The no-frills airline said total revenue stood at £763m after a strong improvement revenues per seat, which were up 9.2% to £51.83 per seat. At constant currency seat revenue grew by 7.7% as the group benefited from the strong Swiss franc.
The number of seats flown increased by 6.9% to 14.7m, helped by the absence of significant winter disruption in the quarter. Excluding the impact of last year's disruption seats flown increased by 2.8%.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Passengers carried increased by 8.1% to 12.9m while the load factor, which measures the number of passengers as a proportion of the number of seats available, increased by 0.9 percentage points to 87.6%.
easyJet added that both ticket and non-ticket unit revenues showed good growth in the quarter.
Chief executive Carolyn McCall said, "easyJet has made a strong start to the year. This is due to firm control of costs, the strength of easyJet's network, tight capacity discipline and pricing actions taken in the second half of last financial year."
"The good performance in the quarter has meant we are cautiously confident in our outlook for the business. Although the economic environment remains weak, easyJet's affordable fares and our focus on making it easy for our customers combined with the actions that management is taking ensures that easyJet is well positioned to continue to succeed."
-
Revealed: The 10 UK locations which could see the biggest house price growth in 2026Scotland leads the way for house price growth in 2026 according to Zoopla, but what regions will do the best in 2026?
-
Could pensions inheritance tax rule change create liquidity crisis for Sippholders?Pension inheritance tax rule changes from April 2027 could create a liquidity crisis for some self-invested personal pensions (Sipps) holding commercial property. We reveal what you can do to mitigate the impact.
