easyJet upgrades1HFY2012 forecast but pre-tax loss still expected

easyJet revised (26-Mar-2012) its forecast for the six months ending 31-Mar-2012:

• Profit (loss) before tax: (GBP110 million) to (GBP120 million), compared to previous forecast for losses between GBP140 million and GBP160 million;
• Capacity: +3% year-on-year, unchanged from its 27-Jan-2012 forecast;
• Revenue per seat*: +10%, compared to previous forecast of growth in the upper single digits;
• Cost per seat excl fuel*: +1.5%, compared to previous forecast of +3%. [more - original PR]

*At constant currency

The carrier stated around half of the improvement in total revenue per seat was driven by the actions taken last year on ancillary pricing. The carrier also estimates disruption and de-icing costs are GBP18 million lower than the previous corresponding period. easyJet added 30% of its 2HFY2012 seats are now booked.

easyJet: "We continue to expect the environment for airlines to remain difficult. We will continue to deliver for our customers, focus on operational excellence, manage our costs tightly and allocate our capacity to the markets that will deliver the best financial return," Carolyn McCall, CEO. Source: easyJet, 26-Mar-2012.