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LONDON (Alliance News) - Low-cost airline easyJet PLC said on Tuesday it saw a strong first half performance, as its loss narrowed on revenue which topped GBP2 billion.
This performance was helped by a positive trading environment, capacity reduction from other airlines, and the timing of Easter.
Total revenue came in at GBP2.18 billion for the six months to March 31, up from GBP1.83 billion last year, while its pretax loss narrowed to GBP68 million from GBP236 million.
Headline pretax profit excluding Tegel was GBP8 million, compared to last year's loss of GBP212 million.
Looking ahead, easyJet said it expects a headline pretax profit for the year to September 30 - including the impact of a headline loss from Tegel - to be between GBP530 million to GBP580 million.
Capital expenditure for the year, including the investment in Tegel, is expected to remain in line with previous guidance at GBP1.2 billion.
"easyJet has delivered an excellent performance reporting a profit of GBP8 million, one of our best results ever in the winter trading period (excluding the one-off impact of the start-up of our Tegel operation). Total revenue was above GBP2bn for the first time, up almost 20% year-on-year. This was driven by a record number of passengers at 37 million and our highest ever ancillary sales," said Chief Executive Johan Lundgren.
"I have today announced an increase in investment in easyJet Holidays to gain a greater share of that market, showcased a series of initiatives to increase the number of passengers travelling on business and revealed plans to introduce a new loyalty programme," Lundgren added.
