easyJet outlines outlook for FY2019, strategy to secure leading positions at primary airports

easyJet reported (17-May-2019) the following outlook for FY2018/2019:

• easyJet's headline profit before tax expectations for FY2019, ending 30-Sep-2019, remain unchanged and in line with market expectations;
• easyJet continues to implement its strategy to secure leading positions at primary airports to drive profitable growth, returns and cash flow;
• Forward bookings for Q3FY2019 are down 3ppt year-on-year at 72% and flat at 34% for Q4FY2019. easyJet's capacity growth in H2FY2019 is forecast at 7%;
• Revenue per seat at constant currency in H2FY2019 is now expected to be slightly down, affected by the ongoing negative impact of Brexit related market uncertainty as well as a wider macro economic slowdown in Europe;
• easyJet estimates that at current exchange rates and with jet fuel remaining within a USD600 per tonne to USD700 per tonne trading range, easyJet's unit fuel bill for FY2019 is likely to increase by between GBP25 million and GBP60 million compared to FY2018;
• Total fuel cost for FY2019 is estimated to be GBP1.4 billion;
• Exchange rate movements are likely to have around a GBP10 million positive impact on headline profit before tax compared to FY2018;
• easyJet is targeting to consolidate its stronger positions delivered over the past few years and as a result capacity growth in FY2020/2021 will likely be at the lower end of its historic growth rate. [more - original PR]