Strong revenue growth at easyJet over third quarter

Strong revenue growth at easyJet over third quarter

Low-cost carrier easyJet has recorded strong growth in revenue over the third quarter of financial 2011, with the airline now expecting to report an annual pre-tax profit of between £200 million and £230 million.

Total revenue for the three months to June 30th grew by 23.2 per cent to £935 million.

Commenting on the results, Carolyn McCall, easyJet chief executive said: “The strong operational and commercial performance in the quarter reflects the continued successful implementation of the strategy we outlined last November.”

easyJet outlined a new strategy for growth late last year, with the airline shifting its focus toward business customers.

Initiatives included the launch of flexible fares on easyJet.com allowing travellers to alter departure dates without incurring additional fees.

As a result, the number of passengers travelling with easyJet on business in the third quarter increased by 20 per cent revealed the airline.

Overall the umber of seats flown rose by 17.1 per cent to 16.7 million over the period and load factors improved by 0.2 percentage points to 86.3 per cent.

Total revenue per seat grew by 5.2 per cent to £56.02, up 4.6 per cent on a constant currency basis.

“Against the backdrop of high fuel prices and an uncertain economic environment, the strength of easyJet’s trading demonstrates it is well placed to succeed,” concluded McCall.

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