Portfolio

Easyjet sees higher revenues on strong start to 2020

By Frank Prenesti

Date: Tuesday 21 Jan 2020

(Sharecast News) - EasyJet on Tuesday forecast a rise in first half revenue per seat to rise by "mid to high single digits"after a strong start to 2020 and lower capacity levels from competitors.
The budget carrier also said it expected a narrower first-half headline pre-tax loss compared with 2019's £275m. Total revenue for the quarter to December 31 rose 9.9% to £1.43bn from the same period a year ago.

Passenger numbers were up 2.8% to 22.2m, driven by a 1% capacity rise to 24.3m seats. Interim revenue per seat had previously been forecast to grow by low to mid-single digits.

The company, which in November launched a package holiday business after the collapse of Thomas Cook, said it expected the new venture to break even in its first year.

Chief Executive Johan Lundgren the improvement in revenue per seat had been driven by Easyjet's self-help revenue initiatives "combined with robust customer demand and a lower capacity growth market".

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