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easyJet profit outlook maintained but operational challenges a concern

3-Aug-2010

easyJet reported a 5.3% increase in revenue in the third quarter of 2010 (three months to Jun-2010) to GBP759.2 million, with the carrier labelling the results as a “good commercial performance”. The carrier added that it continues to expect a pre-tax profit of between GBP100 million and GBP150 million in the full year, with forward bookings “in line” with the prior year with 64% of the fourth quarter seats now sold. [2648 words]

Unlock the following content in this report:

Subheadings:

  • easyJet CEO to review growth plans
  • Slight revenue growth in Jun-2010 quarter; ancillary revenue performance “behind plan”
  • Operating costs “in line with expectations”
  • Cash balance exceeding GBP1 billion
  • Volcanic ash crisis hurts
  • Majority of growth in mainland Europe
  • Fleet growth of 11% expected by Sep-2012
  • Mitigation of risk through hedging strategies 
  • Outlook: A bunch of challenges for new CEO but profitability outlook maintained and revenues tracking in right direction

Graphs and data:

  • easyJet financial highlights for three months ended 30-Jun-2010
  • easyJet’s share price growth: Jan-2010 to Jul-2010
  • easyJet CEO ‘priorities and initial impressions’ at Week 4
  • easyJet ancillary revenue as % total revenue: 2006 to 3Q2010
  • easyJet unit revenue figures: Three months ended Jun-2010
  • easyJet revenue per seat growth: 2004 to 3QFY2010
  • Impact of volcanic ash on results for three months ended Jun-2010
  • easyJet revenue and passenger growth: 2004 to 3QFY2010
  • easyJet key market highlights and market opportunities
  • Route launch dates: 2010
  • easyJet fleet plan
  • easyJet hedging positions: as at Jun-2010
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