easyJet ups full year profit forecast

Budget airline easyJet said a surge in business at the end of the summer and a benign operating environment meant it was upping its full year profit forecasts.

The firm now expects pre-tax profits for the year to the end of September 2012 to be between £310m and £320m.

This compares with the previous range of £280m to £300m.

Article continues below

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.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

Following the end of the Olympic games, demand from London increased towards the upper end of expectations with the late market and beach routes performing particularly well, the airline said.

However, easyJet said it estimated that at current fuel and exchange rates the airline's unit fuel bill for the 2013 financial year was likely to increase by £30-40m.

In addition, it said exchange rate movements were likely to have a further £40-60m negative impact in the next financial year.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.