EasyJet eyeing a record after late rush in search of the sun
Thursday 04 October 2012
Budget airline easyJet yesterday flagged up record profits this year as holidaymakers who stayed at home for the Olympics dashed abroad to grab some late summer sun.
EasyJet, which carries 58 million passengers a year, said pre-tax profits for the year to September could hit as much as £320m, £20m above its estimates in late July.
Fears over Olympic disruption failed to emerge while Britons also flooded abroad after the wettest summer for 100 years.
The airline carried 11 million passengers in total in August and September, of which 3.5 million came from London and the South-east. Of these, 500,000 jetted off to Malaga, Alicante and Faro, easyJet said. The update pleased the City as analysts immediately marked up their own forecasts.
Wyn Ellis, an analyst at Numis, said: "Before the summer they were a little bit concerned about disruption from the unions but it was a very smooth month. If you look at the likes of Tui Travel and Thomas Cook, they saw an increase in bookings after the Olympics because it was such a lousy summer."
The profit improvement comes despite the company absorbing an extra £230m in fuel costs during the financial year. There are also further headwinds ahead from another £40m in fuel costs, as well as the impact of the falling euro, because around half of the carrier's customers book in Europe. Airport costs are also expected to rise by around £80m.
- 1 Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
- 2 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Dad attempts revenge on teenage daughter, plan backfires spectacularly
- 5 Ball pool for adults opens in London
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
King Abdullah dead: We can't afford not to hold Saudi Arabia's royals to account
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...