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easyJet: FY profit double digit growth despite "less benign" environment in European short-haul

25-Jul-2014 10:57 PM

easyJet's reported revenue growth of 8.6% for 3QFY2014 (i.e. Apr-2014 to Jun-2014), is an acceleration on 1H's 6.3%, with further growth in revenue per seat. However, load factors are already at industry-leading levels throughout the year and easyJet will probably need to focus more on revenue per passenger if it is to continue to see continued growth in revenue per seat. In 3Q, it experienced a rare (and slight) dip in revenue per passenger. To some extent, the change in the timing of Easter distorts year on year comparison for 3Q, but the airline's new FY2014 guidance implies a modest fall in revenue per seat in 4Q.

Strong capacity growth by easyJet at Gatwick, due to the acquisition of slots from Flybe, and a competitive environment of increasing capacity growth are making themselves felt in this modest yield weakness.

Nevertheless, easyJet's unit costs were lower than previously expected and it has a significant cost advantage versus legacy carriers at the primary airports on which its network focuses. Moreover, its FY2014 guidance implies another year of double digit profit growth and return on capital above the cost of capital.

United Airlines improves 2Q2014 performance and defines how it intends to sustain momentum

25-Jul-2014 11:52 PM

Tigerair incurs another loss in 1Q. Turnaround hinges on increased transit traffic and partnerships

25-Jul-2014 1:08 PM

Delta Air Lines puts trans-Atlantic worries to rest as it posts strong 2Q2014 results

24-Jul-2014 11:55 PM

Cambodian aviation's surge in airline start-ups as Chinese traffic drives rapid growth

24-Jul-2014 10:20 AM

Colombia aviation enjoys a rational supply-demand balance even with VivaColombia’s ample growth

23-Jul-2014 9:51 PM

The ‘Aerotropolis EMEA’ Conference report. Part 2: Strong political leadership needed

23-Jul-2014 6:22 PM

What Makes the Ideal Airline CEO?

Do CAPA's World Aviation Summit delegates agree with the experts?

At CAPA’s World Aviation Summit in Amsterdam in Nov-2013, delegates were asked what they considered to be the key characteristics that an airline CEO should possess. Included in the responses were words such as vision, decision-maker, innovative, charismatic, leadership, communications, focus, passion, adaptability, discipline, entrepreneur. Delegates were also asked to nominate who they considered to be the best airline CEO ever.

In the fiercely competitive airline market place, the airline CEO needs an almost impossibly broad range of skills. Is it reasonable to expect to find all these qualities in one person? How important are the other executives and the board of directors to a CEO? A panel session at the Summit, led by CAPA Executive Chairman Peter Harbison, discussed these and a range of other issues that touch on what makes the ideal airline CEO. Who were the panellists’ nominations for best airline CEO and did Summit delegates share their views?

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