Easyjet Posts Revenue Increase Despite Economy

Easyjet, a UK-based airline, has announced increased profits for its third financial quarter of 2012.

The airline has reported recorded revenue of GBP1.03 billion, representing a 10.5 percent increase in revenues from that in the same period last year.

Explaining the results, Carolyn McCall, easyJet chief executive officer, said, ‘easyJet’s focus on the customer, tight operational and cost management and strict allocation of capital across its leading network means that it is able to continue to perform well financially and operationally despite a tough environment for consumer facing businesses.

The continued strong operational and financial performance of the business combined with the fall in the price of jet fuel means that profit before tax for the year ending September 30, 2012 is anticipated to be in the range of GBP280 million to GBP300 million, at current fuel and exchange rates, assuming no significant disruption.’

The airline has reported that strong management of its expenses and low levels of disruption has led to 1 percent increase in cost per seat, excluding fuel, at constant currency, and a lowering by 3 percent of significant year on year change in the euro. As on time performance improved by 3 percent over the same quarter last year, to 87 percent in the 2012 third quarter, the customer satisfaction remained stable at 82 percent.

With around three quarters of summer seats now booked, in line with the previous year, revenue per seat at constant currency continues to perform in line with expectations. Fourth quarter revenue per seat is anticipated to be broadly in line with the third quarter.