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EasyJet raises profit forecast

Thursday, 20 July 20173 min read

EasyJet’s revenue rose 16% in the third quarter to £1.39 billion, it announced today.

The airline, whose chief executive Carolyn McCall is leaving to join ITV, said the rise in revenue for the three-month period was largely due to the later Easter, higher load factors and an ‘improved environment’.

It said profits for the full year were likely to be between £380 million and £420 million, which is more than the original £375 million forecast.

Passenger numbers were up 10.8% to 22.3 million, while load factors were up 1.1 percentage points to 93.1%.

McCall said: "Our purposeful and disciplined growth continues to strengthen our market positions and we are seeing an underlying improving revenue trend.

"Our continuing product and digital innovation is generating revenue growth. Our underlying cost control is strong, while our investment in resilience is delivering results in our operational performance.

"Although we expect capacity to continue to put pressure on yields, our progress this year has enabled us to upgrade this year’s forecast and demonstrates that after a difficult 18 months of external challenges easyJet once again has positive momentum."