25-Jul-2011 1:58 PM

easyJet revenue up 23% in 3QFY2011

easyJet revenue up 23% - financial highlights for the three months ended 30-Jun-2011:

  • Revenue: GBP935 million, +23.2% year-on-year;
    • Passenger: GBP741 million, +20.0%;
    • Ancillary*: GBP194 million, +36.9%;
  • Passenger numbers: 14.4 million, +17.3%;
  • Load factor: 86.3%, +0.2 ppt;
  • Passenger revenue per seat: GBP44.37, +2.5%;
  • Underlying costs per seat excl fuel: +2.7%;
  • Ancillary revenue per seat: GBP11.65, +17.0%;
  • Average sector length: 1118 km, -1.6%;
  • Cash and money market deposits**: GBP1397 million;
  • Net cash: GBP112 million;
  • FY2011 forecast:
    • Profit before tax: GBP200 million to GBP230 million.
    • Total revenue per seat: +25 to +3%. [more]

*Includes checked baggage charge
**Excluding restricted cash

easyJet: “Capacity, measured in seats flown, for the second half of the year, is planned to increase by 8% on an underlying basis after adjusting for the impact of volcanic ash or 12% on a reported basis, giving a reported increase of around 11% for the full year compared to 2010. easyJet has seen strong demand in the fourth quarter leading to higher than expected load factors and yields. Consequently, second half total revenue per seat is now expected to improve by around 5% to 6%for the second half with planned improvement in yields, bag charges and other ancillary revenues,” Company statement. Source: easyJet, 22-Jul-2011.

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