easyJet increases 1HFY2015 guidance on forex movements and lower fuel bill
easyJet updated (26-Mar-2015) its guidance for 1HFY2015 as follows:
- 1HFY2015 capacity growth: Forecast to increase 3.7%, up from previous guidance of 3.5%;
- FY2015 capacity growth: Forecast to increase 5%;
- 1HFY2015 revenue per seat: Forecast to increase 2.5%, up from previous guidance of 2%;
- 1HFY2015 cost per seat ex fuel: Forecast to increase by "up to" 3%, up from previous guidance of a 2.5% increase;
- FY2015 cost per seat ex fuel: Forecast to increase by "up to" 2.5%, up from previous guidance of a 2% increase;
- 1HFY2015 forex impact: Forecast to have a GBP20 million favourable impact, up from a GBP10 million favourable impact;
- FY2015 forex impact: Forecast to have a GBP20 million adverse impact;
- 1HFY2015 unit fuel bill: Forecast to be GBP35 million favourable compared to 1HFY2014, with previous guidance of a GBP30-35 million favourable movement;
- FY2015 unit fuel bill: Forecast to be GBP90-120 million favourable compared to 1HFY2014, with previous guidance of a GBP90-130 favourable movement;
- 1HFY2015 result before tax: Forecast between a GBP5 million loss and GBP10 million profit, up from previous guidance of a GBP10-30 million loss.
easyJet stated: "The Board's expectation is now for a pre-tax result for the six months ended 31 March 2015 of between a loss of £5 million and profit of £10 million compared with the previous guidance of a pre-tax loss of £10 million to £30 million and a prior year pre-tax loss of £53 million. easyJet has had a good first half of the year and second half bookings are in line with last year. However, further volatility around currency rates and the oil price is likely to continue into the second half." easyJet CEO Carolyn McCall said: "easyJet has performed well in the first half of the year and has continued to deliver its strategy of making travel easy and affordable for passengers. We continue to expect that lower fuel costs will be beneficial for our customers as fares adjust. easyJet continues to be well positioned to deliver sustainable returns to shareholders due to its compelling network, low cost base and strong balance sheet." [more - original PR]