easyjet focused on expansionist strategy; reports better-than-expected Dec-08 quarter results
easyJet reported (22-Jan-09) better-than-expected revenue and traffic results for the three months to 31-Dec-08 (1Q09) and confirmed its strategy to continue to expand even as economic conditions deteriorate. CEO, Andy Harrison, stated the LCC expects to improve its average yield by approximately 5% over 2009 as part of the "flight to value", as the carrier picks up new business traffic. The carrier has also maintained its profitability forecast for 2009 and stated it expects revenues for 1H09 to be ahead of the previous guidance. Following the announcement, easyJet shares soared 15%, closing the day (22-Jan-09) up 12.5%.
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