Partly Cloudy

Partly Cloudy

max temp: 21°C

min temp: 14°C

ESTD 1874 Search

Stansted: Budget carrier easyJet trims forecast for first-half loss

15:09 25 March 2014

Low-coast airline easyJet is on course for a lower than previously expected deficit in its traditionally loss-making first half.

Low-coast airline easyJet is on course for a lower than previously expected deficit in its traditionally loss-making first half.

Archant

Low-cost airline easyJet said today that it is now on course for a smaller than previouslyexpected loss this winter.

shares

The Luton-based carrier, which is also a major operator at Stansted, has benefited from improved revenues trends and benign weather, which reduced levels of de-icing and disruption.

It now expects losses of between £55million and £65m for the six months to March 31, compared with guidance in January of £70m to £90m and a loss of £61m in the same period a year ago.

Chief executive Carolyn McCall said the performance showed the company’s structural advantage in the European short-haul market against both established carriers and low-cost competition.

She added: “Our strategy of offering our customers low fares to great destinations with friendly service and a focus on cost control ensures that we can continue to deliver sustainable growth and returns for our shareholders.”

Revenues per seat are expected to be 1.5% higher in the six months, driven by allocated seating, digital initiatives and longer average flights.

Costs per seat growth is likely to be around 0.5%, which is better than the guidance of 1.5% issued at the end of January.

Profits at easyJet in the last financial year to September 30 jumped 51% to £478m, with ongoing efforts to attract more business travellers meaning it flew more than 60m passengers in a year for the first time.

shares

0 comments

Post Office services to return to Yoxford

The Post Office in a Suffolk town is moving to new premises, and will offer longer opening hours.

Dame Fiona Kendrick:, chief executive of Nestlé  UK & Ireland

Food giant Nestlé has announced plans to close its defined benefit pension scheme, sparking the threat of industrial action.

The Treasury has sold another 1% stake in Lloyds Banking Group.

The taxpayers’ stake in Lloyds Banking Group has fallen to below 16% after the Government sold off another tranche of shares.

The installation of solar panels on the roof of Precision Marketing Group's premises in Lamdin Road, Bury St Edmunds

A Suffolk-based firm will be among the organisations taking part in a nation-wide celebration of solar energy tomorrow.

Candy Gaga'’s Wanda Hewell, right, and daughter, Cherish.

Tower Ramparts in Ipswich now has its very own castle – thanks to the success of a local sweet shop business.

Stansted Airport

A report into the future of Britain’s airports does not rule out a second runway at Stansted – and raises fears of extra night flights to the Essex airport.

Growth in manufacturing eased last month  to its slowest level in two years.

Britain’s manufacturing sector grew at its slowest pace in more than two years last month, impacted by subdued demand from Europe.

Speedy Hire
 has warned that its results for this year will come in

Tool rental business Speedy Hire saw nearly a third of its stock market value wiped off after it announced the shock departure of its chief executive and warned over a major blow to full year profits.

Greene King chief executive Rooney Anand.

Pubs and brewing group Greene King today posted another year of record revenues, with sales within its key Retail division topping £1billion for the first time.

Suffolk Coastal considers convenience store bid

Planning chiefs have responded to concerns about noise and antisocial behaviour arising from proposals for a new convenience store in Kesgrave by insisting on closing times being brought forward an hour and the installation of a barrier to restrict overnight parking.

Most read

Topic pages