Year-on-year passenger growth at budget airline easyJet continued to accelerate in May, the group said on Friday.
easyJet flew 5,423,726 passengers in May 2012, 14.4% higher than the 4,739,436 in the same month of 2011. Meanwhile, the load factor, which is a measure of how full its planes are, improved by 3.9 percentage points (pp) from 84.1% last May to 88.0%.
The rolling 12-month number of passengers increased by 7.4% to nearly 56.9m, while the rolling load factor increased by 1.5pp.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
When compared with the same month the year before, passenger numbers declined by 0.4% in January but have improved every month since then, rising by 3.7% in February, 4.4% in March and 8.6% in April.
Worth noting, passenger numbers represent the number of earned seats flown, whether of not the passenger turns up as easyJet is a no-refund airline.
Shares were up 0.32% at 495.4p in early trading.
Alongside the group's first-half results released last month, easyJet Chief Executive Carolyn McCall said: "The economic environment remains uncertain, and the aviation industry faces headwinds such as the recent increase in UK APD [air passenger duty]."
"However, easyJet's strategy of low fares and our focus on making it easy for our customers, aligned with tight cost management and strictly managed allocation of capital, ensures that easyJet is well positioned to deliver good results for shareholders."
easyJet reported a loss before tax of £112m in the six months to the end of March, better than the £153m the year before, while revenues rose 15.6% from £1,26mm to £1,465m.
Pensioners to receive up to £600 in winter support - who is eligible and how to claim
Up to £600 in cost-of-living payments is starting to land in pensioners’ bank accounts. We explain who qualifies and what to do if you don’t receive the cash.
By Ruth Emery Published
M&S shares shift from frumpy to fabulous as pre-tax profits are up by 56%
M&S is performing strongly and has announced it will pay a dividend for the first time since the pandemic.
By Dr Matthew Partridge Published