Business News
Easyjet posts strong third-quarter growth
Jul 22, 2011, 9:02 GMT
London - Discount airline Easyjet said Friday it was expecting strong earnings for the fiscal year ending September 30 after double-digit growth in the third quarter.
Presenting preliminary results for the quarter ending June 30, the airline said that already, 75 per cent of its tickets for the most important travel month, August, had been sold.
In the third quarter, revenues were up 23 per cent to 935 million pounds (1.52 billion dollars), whereby business during the year-earlier period had been adversely affected by the Iceland volcanic ash problem.
Still, despite rising fuel costs Easyjet posted the sales growth in the third quarter thanks to higher ticket prices, as meanwhile passenger numbers rose 17 per cent year-on-year, to 14.4 million.
Adjusting for the previous year's volcanic ash factor, the growth in passenger numbers on a comparable basis was 9 per cent, Easyjet said.
With the third-quarter performance, Easyjet said it was expecting pre-tax profits for the full business year ending on September 30 of between 200 and 230 million pounds.
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