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LONDON (Alliance News) - Budget airline easyJet PLC on Thursday upgraded its full-year profit guidance following a strong summer trading season.
The FTSE 100 airline said its pretax profit for the financial year to the end of September is now expected to be GBP675 million to GBP700 million, up from its previous guidance of GBP620 million to GBP660 million.
The group said its strong revenue performance over the summer has more than offset any cost challenges it has faced this year, including the disruption across its network back in April, the fires which hit Rome Fiumicino airport, its GBP8.0 million one-off settlement with Eurocontrol, and costs associated with its higher load factors.
The group said its load factor in August was 94.4%, a new monthly record for the company, while passenger numbers increased to 7.1 million, another record. It also saw a stronger-than-anticipated revenue performance in August and said its outlook for September, supported by robust digital and revenue initiatives it has undertaken, also looks brighter than before.
"These figures demonstrate the strength of easyJet - with its strong customer focus and its unique and winning combination of the best route network connecting Europe's primary airports, with great value fares, friendly service and industry leading digital innovations," said Chief Executive Carolyn McCall.
"This platform meant that easyJet was best placed to maximise the strong late summer demand from UK passengers to get away to beach and city destinations across Europe and will enable the airline to set new records for full year revenue and profit," McCall added.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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