EASYJET INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 30 JUNE 2012

2012-07-25 — /travelprnews.com/ — Highlights:

  • Total revenue per seat was £57.58; an increase of 4.7%, at constant currency, compared to the prior year driven by targeted capacity allocation into higher yielding markets, the success of the ‘europe by easyJet’ campaign and the recently launched mobile app. Revenue per seat growth was 2.8% on a reported basis, due to the significant year on year change in the euro : sterling exchange rate from 1.14 to 1.20.
  • Total revenue increased by 10.5% to £1,033 million as seats flown grew by 7.5% to 17.9 million, passengers carried increased by 10.9% to 16 million and the load factor increased by 2.8 percentage points to 89.1%. Average sector length declined by 1.5% to 1,101 kilometres.
  • Continued strong cost management and low levels of disruption ensured that cost per seat excluding fuel increased by 1% at constant currency, and reduced by 3% on a reported basis due to the benefit of the significant year on year change in the euro.
  • On Time Performance improved by three percentage points to 87% and customer satisfaction remained stable at 82%.
  • With around three quarters of summer seats now booked, in line with the previous year, revenue per seat at constant currency continues to perform in line with expectations. Fourth quarter revenue per seat is anticipated to be broadly in line with the third quarter.
  • The continued strong operational and financial performance of the business combined with the fall in the price of jet fuel means that profit before tax for the year ending 30 September 2012 is anticipated to be in the range of £280 million to £300 million, at current fuel and exchange rates2, assuming no significant disruption.

Commenting on the results, Carolyn McCall, easyJet Chief Executive said:

“easyJet’s focus on the customer, tight operational and cost management and strict allocation of capital across its leading network means that it is able to continue to perform well financially and operationally despite a tough environment for consumer facing businesses.

The continued strong operational and financial performance of the business combined with the fall in the price of jet fuel means that profit before tax for the year ending 30 September 2012 is anticipated to be in the range of £280 million to £300 million, at current fuel and exchange rates2, assuming no significant disruption.”

For further details please contact easyJet plc:

Institutional investors and analysts:
Rachel Kentleton +44 (0) 7961 754 468
Tom Oliver +44 (0) 7950 996 262
Media:
Paul Moore +44 (0) 7860 794444
Edward Simpkins RLM Finsbury +44 (0) 7947 740551

A copy of this Interim Management Statement is available at www.easyJet.com/investors

View the full press release in PDF format.

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