Partly Cloudy

Partly Cloudy

max temp: 22°C

min temp: 16°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

Millions have been paid to passengers since 2012

There was a £900,000 increase in the amount paid to delayed passengers in just one year – from £1.4m in 2013/14 to £2.3m in 2014/15.

The new branding for Tarmac following its acquisition by CRH.

Iconic contruction brands Tarmac and Blue Circle have been combined to create a UK leader in the building materials sector.

Anne Holt of Baker Tilly.

East Anglia’s many ports and logistics businesses are being advised to prepare for new European Union customs duty arrangements which come into force next year.

Alan Cowie, communications and events officer at the| New Anglia Growth Hub.

New Anglia Growth Hub is to host a funding workshop, bringing together five providers of business support under one roof.

The Birketts Tour de Wellbeing cycle team, from left, Matthew Potter, Ben Burt, Jolyon Berry (front) Greg Jones and Tom Shape.

Members of the employment team at regional law firm Birketts raised more than £1,000 for Breast Cancer Care by taking part in the Tour de Wellbeing virtual cycle race, held by EMCOR UK to coincide with the Tour de France.

A plane in Flybe's latest purple livery.

Regional airline Flybe has confirmed its 2015-16 winter schedule to and from Stansted.

The head office of BT, the BT Centre, in Newgate Street, central London.

Thousands of BT workers are to share in a £265million payout under share-related savings schemes which will see some employees making gains of more than £54,000.

Lloyds has added £1.4billion to its bill for compensating customers mis-sold payment protection insurance.

State-backed Lloyds Banking Group’s provision for payment protection insurance mis-selling has topped £13billion after it yesterday took another £1.4billion hit over the scandal.

A computer-generated image of how the Sizewell complex will look after construction of Sizewell C.

Development of Sizewell C took a huge step forward today as the companies were announced that will build its sister nuclear power station in Somerset.

Gary Allen, operations manager,  with Diane Allen and Graham Allen at Ipswich-based Ajax Domestic Spares which is celebratiing 40 years in business.

Ajax Domestic Spares has marked 40 years in business in style by launching a new showroom in Foxhall Road, Ipswich.

Most read

Most commented

Topic pages