EasyJet sees record passenger numbers

Easyjet Bistro and Boutique

Easyjet (Photo credit: Adrian Pingstone).

The airline recorded a reduction in revenue-per-seat, at constant currency, of 3.7% in the fourth quarter and 1.4% in the second half.

Passenger numbers and load factor in the final quarter set new records for easyJet, although it said there would be "continued pressure on yields reflecting ongoing market capacity growth", now forecast at around 5 percent in the first quarter.

The group said: "Passengers have benefitted from low summer fares across the network, particularly on beach markets from the United Kingdom".

Meanwhile, exchange rates did adversely impact on the company during the period with exchange rate movements now expected to have an estimated £100m ($130.5m) adverse impact on headline profit before tax, compared with the financial year to September 2016.

Dame Carolyn McCall's valedictory results at Easyjet will show a profit crash of roughly 17 per cent and earnings down 40 per cent from two years ago. There are also media reports that easyJet is interested in some of Monarch's slots at London's Gatwick airport.

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Its pre-tax profit estimate amounts to a substantial decline on the previous level of £495 million - although the carrier says its second-half profit was over £100 million higher than past year.

United Kingdom budget carrier EasyJet is predicting a full-year pre-tax profit of £405-410 million ($530-536 million), at the higher end of its previous estimates.

Easyjet said it saw the current market environment as "an opportunity to build and strengthen its network and customer proposition for the long term".

EasyJet has posted record passenger numbers for summer, as it cashes in on Ryanair's cancelled flights crisis.

Ms McCall said the market continued to be "challenging", while the airline had had to absorb "a significant currency impact" of £100m over the year. For the rolling year to September its traffic grew by 12% to 127.3m passengers.


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