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easyJet revenue up 5.3% in 3QFY2010, optimistic for FY results

29-Jul-2010 1:20 PM

easyJet revenue up 5.3% - financial highlights for the three months ended 30-Jun-2010;

  • Revenue: GBP759.2 million, +5.3% year-on-year;
    • Ancillary: GBP142.0 million, +1.3%;
  • Total revenue per seat: GBP53.23, +3.5%;
  • Passenger revenue per seat: GBP43.27, +4.5%;
  • Ancillary revenue per seat: GBP9.95, -0.4%;
  • Net cash: GBP47.1 million;
  • Passenger numbers: 12.3 million, +3.5%;
  • Load factor: 86.1%, +1.4 ppt;
  • Fleet plan:
    • As at 30-Jun-2010: 188;
    • FY2010: 192;
    • FY2011: 200;
    • FY2012: 208;
  • Hedge positions:
    • 51% of anticipated USD requirement for full year to 30-Sep-2011 hedged using forwards at USD1.61;
    • 70% of anticipated jet requirement for full year to 30-Sep-2011 hedged using forwards at USD734/MT;
    • 52% of anticipated EUR surplus for full year to 30-Sep-2011 hedged using forwards at EUR1.09. [more]

easyJet: “Forward bookings are in line with the prior year and with 64% of the fourth quarter seats now sold, total revenue per seat growth for the final quarter at constant currency is expected to be in the range of 2% to 3%. Therefore full-year total revenue per seat at constant currency is expected to increase by around 2.5%, a better performance than originally expected. Total operating costs excluding fuel at constant currency before volcanic ash related costs of GBP36 million and snow disruption costs of GBP21 million will be up by between 2% and 3% per seat for the full year. Despite these additional one-off costs and the uncertain economic outlook the company continues to expect to make a pre-tax profit for the year of between GBP100 million and GBP150 million at current exchange rates and fuel prices,” Company statement. Source: easyJet, 28-Jul-2010.