Tuesday preview: easyJet reports first quarter interims

(ShareCast News) - easyJet reports its first quarter interims on Tuesday with analysts expecting a positive update on traffic growth and cost reductions.In early January the budget airline reported that traffic suffered initial weakness in December following the terrorist attacks in but had recovered in the following weeks.Passengers flown increased by 4.6% to 4.8 million in December, compared to 9.5% growth in November."In the first quarter, overall passenger numbers were up 8.1% to just over 16m with the load factor up from 89.7% to 90.3%," Numis analyst Wyn Ellis said."We expect the first quarter interims to include a positive update from the new CFO, Andrew Findlay, on his promised deep-dive into the cost base."The analyst added that the fall in jet fuel prices should be of "substantial benefit". Ellis noted at 17 November that 83% of the annual 2016 fuel requirement had been hedged at $830 per metric tonnes and 60% of 2017 at $664 metric tonnes, compared with a current spot price of $350 metric tonnes.Numis estimated that in 2016 fuel will represent 27% of easyJet's total cost base."Overall, we expect that full year consensus numbers to be held; as ever, the summer months remain key and we believe that the demand backdrop remains positive particularly for short haul leisure markets."Tuesday 26 January INTERIMS Purplebricks Group, PZ Cussons INTERIM DIVIDEND PAYMENT DATE Premier Farnell Cum Cnv Red Prf (Sterling Coupon), Premier Farnell Cum Conv Red Pref Shs 1(USD Cpn), RPC Group INTERNATIONAL ECONOMIC ANNOUNCEMENTS Consumer Confidence (US) (15:00) House Price Index (US) (15:00) GMS Crimson Tide FINALS Crest Nicholson Holdings, Tern EGMS Air China Ltd. AGMS Applied Graphene Materials , Arcontech Group, Avon Rubber, European Investment Trust, Greencore Group, Infrastrata, Marston's, Redefine International, Servoca, VinaCapital Vietnam Opportunity Fund Ltd. TRADING ANNOUNCEMENTS Intermediate Capital Group