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easyJet to deliver “substantial profit improvements” during 2010, after reporting solid results


easyJet, Europe’s second largest LCC, reported a solid set of financial results for the three months ended Dec-2009 (1QFY2010), ending 2009 as the “best performing European airline during 2009”, according to CEO, Andy Harrison, who added that expects the carrier to deliver “substantial profit improvement during 2010”. Mr Harrison commented that while conditions remain “challenging” and the LCC expects a continued “tough trading environment”, the “underlying performance of the business in the first quarter has been encouraging.” [2222 words]

Unlock the following content in this report:


  • Double-digit revenue growth, driven by strong ancillaries
  • New ancillary revenue stream: Cargo
  • Revenue results also impressive on a unit basis
  • Improvements in in-flight revenue spend; checked baggage revenues
  • Cash balance exceeding GBP1 billion
  • Operating costs “in line” with expectations
  • Effected by unprecedented Winter weather in Dec-2009/Jan-2010
  • Making progress in cost reduction programme
  • Continued development of non-UK originating pax; market share gains across Europe
  • Capacity growth of around 10% and 70 new destinations for 2010
  • Mitigation of risk through hedging strategies 
  • Outlook: expecting improvements in 2010

Graphs and data:

  • easyJet financial highlights for three months ended 31-Dec-2009
  • easyJet ancillary of total revenue: 2006 to 1QFY2010
  • easyJet revenue per seat growth: 2004 to 1QFY2010
  • easyJet unit revenue figures: Three months ended 30-Dec-2009
  • easyJet revenue growth and passenger number growth: 2004 to 1QFY2010
  • easyJet key market highlights: Three months to 31-Dec-2009
  • easyJet fleet plan
  • easyJet hedging positions: as at Dec-2009
  • easyJet share price growth: Jan-2009 to Jan-2010
  • easyJet outlook: Jan-2010
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