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Easyjet upbeat about 2006 profit
Easyjet has revised its profit forecast for 2006, claiming it will be up by as much as 50% compared to its earlier predictions of a 10%-15% rise.
The low-cost carrier expects revenue per seat to be up 3%-4% for the year.
In June, it carried nearly 2.59 million passengers – a 15.6% rise over June 2005.
Meanwhile, load factor was 87.6% compared to 85.6% in June last year.
For the three months to the end of June, revenues per seat were 17% higher than a year earlier, boosted by the timing of the Easter bank holiday.
Chief executive Andy Harrison said: “The improved revenue outlook leads us to increase our profit guidance.
“Previously our profit guidance for the full year was growth of 10% to 15%; we now expect pre-tax profit growth for the full year to be in the range of 40% to 50%.”
The announcement sent Easyjet’s share price soaring to a four-year high of 425p.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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