Easyjet on track for 40%-50% full-year profit growth
Easyjet claims it is on track to achieve full-year pre-tax profit growth of 40%-50% after unveiling its third quarter trading statement today.
The airline grew passenger numbers by 13% to 9.9 million in the three months to June 2007 compared to the same period in 2006.
“The impact of reduced lead in fares, increased promotional activity and the doubling of Air Passenger Duty in the UK has resulted in a fall in total revenue per seat of 8% compared to the same quarter last year,” it said in a statement.
“Rapid growth outside the UK means 46% of easyJet’s revenues are now in currencies other than GBP and at constant exchange rates, unit revenues were down 7% per seat or 5% per passenger.”
But it said the strong pound had helped offset the impact of foreign exchange rates on revenues, with 35% of costs in US Dollars, 26% Euros and 8% Swiss Francs.
“Continued investment in a modern, low cost fleet and on-going improvements in efficiency have resulted in unit costs, excluding fuel, being down in excess of 10% compared to the same period last year,” it continued.
The airline’s July traffic statistics, also released today, show load factors of over 88%.
It expects to maintain high load factors for the summer, “while second half guidance on revenue per seat remains unchanged, down 5% – 10%”.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
In Italy, the Meloni government congratulates itself for its tourism achievements
Singapore to forbid entry to undesirable travelers with new no-boarding directive