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Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said: "EasyJet's put dividends back on the schedule as its recovery from the pandemic can finally be labelled mission complete. The level of the payout might be smaller than pre-pandemic, but this allows the group to ease back in and increases the chances of meaningful increases further down the line.
London South East
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Share Price:
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Ask:
445.00
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Spread: 39.00 (9.606%)Open: 0.00High: 0.00Low: 0.00Prev. Close: 436.80
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Trading Update for the year ended 30 September 2023 and Proposed Aircraft Purchase
Today 07:00
easyJet plc (EZJ) Trading Update for the year ended 30 September 2023 and Proposed Aircraft Purchase 12-Oct-2023 / 07:00 GMT/BST
12 October 2023
This release contains inside information
easyJet plc
(‘easyJet’)
easyJet Trading Update for the year ended 30 September 2023 and Proposed Aircraft Purchase
easyJet delivers record Q4 PBT, thereby achieving in FY2023 its existing financial targets. Business momentum now allows the setting of new, ambitious, medium-term targets, a proposed new aircraft order and resumption of dividends.
Record Q4 headline profit before tax expected to be between £650 - £670 million Passenger growth +8% YoY RPS +9% YoY vs guidance of c. 10% Ticket yield per passenger +9% YoY Ancillary yield per passenger +14% YoY CPS ex fuel flat YoY Record H2 headline profit before tax expected to be between £850 - £870 million Passenger growth +7% YoY RPS +15% YoY CPS ex fuel reduced 1.3% YoY vs guidance of flat FY23 headline PBT between £440 - £460 million easyJet holidays continues to outperform and is expected to deliver around £120 million PBT for FY23 Q1 FY24 Guidance Capacity c.15% ahead YoY Yields ahead YoY with load factors broadly in line Airline CPS ex fuel expected to slightly reduce YoY New medium-term targets with the ambition to deliver >£1bn PBT Group PBT1 per seat of £7-10 High teen ROCE2 Holidays PBT1 to >£250m Capacity growth c.5% CAGR to 2028 Proposed aircraft purchase 157 firm orders for delivery between FY29 and FY34 and 100 Purchase Rights, subject to shareholder approval Existing order book of 158 aircraft for delivery by FY29 Conversion of 35 A320neo deliveries into A321neos within existing order 315 aircraft now on order for delivery by FY34 alongside a further 100 purchase rights Proposed new shareholder returns policy, commencing with FY23 results, payable early 2024 FY23 payout ratio of 10% of headline PAT FY24 payout ratio e
Wizz Air reported a rise in passenger number of more than 20% last month. The budget carrier said it carried 5.5 million passengers in September, up 21% year-on-year from 4.6 million. Its capacity improved 14% to 6.0 million from 5.3 million, and its load factor to 92.4% from 87.1%. On a rolling 12-month basis, passenger numbers are 40% higher at 57.6 million. Fellow budget carrier Ryanair said passenger numbers were around 9.4% higher on-year at 17.4 million in September, from 15.9 million. Its load factor was unmoved at 94% last month. On a rolling 12-month basis, passenger numbers were 17% higher at 178.9 million.