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easyjet focused on expansionist strategy; reports better-than-expected Dec-08 quarter results

28-Jan-2009

easyJet reported (22-Jan-09) better-than-expected revenue and traffic results for the three months to 31-Dec-08 (1Q09) and confirmed its strategy to continue to expand even as economic conditions deteriorate. CEO, Andy Harrison, stated the LCC expects to improve its average yield by approximately 5% over 2009 as part of the "flight to value", as the carrier picks up new business traffic. The carrier has also maintained its profitability forecast for 2009 and stated it expects revenues for 1H09 to be ahead of the previous guidance. Following the announcement, easyJet shares soared 15%, closing the day (22-Jan-09) up 12.5%. [1853 words]

Unlock the following content in this report:

Subheadings:

  • Solid revenue performance in 1Q09
  • Strong growth in key London Gatwick, France, Italy and Spain business markets
  • Slows growth in short term, but long-term growth on track
  • 73% of FY09 fuel requirement hedged; strong cash balance of GBP801 million
  • Outlook: opportunities in challenging times

Graphs and data:

  • easyJet financial highlights for three months ended 31-Dec-08
  • easyJet total revenue per seat quarterly trend: 1Q08 to 1Q09
  • easyJet revenue per passenger/seat breakdown: 1Q09
  • easyJet relative revenue (passengers and bag) per seat change: 1Q09 at constant exchange by base
  • easyJet revenue per passenger/seat breakdown: 1Q07 vs 1Q09
  • easyJet capacity change: 1Q09 based aircraft
  • easyJet key market analysis
  • easyJet fleet growth plans: FY08 to FY11
  • easyJet hedging positions
  • easyJet forward bookings: 2Q08/3Q08 vs 2Q09/3Q09
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