Monarch collapse boosts easyJet’s business
The collapse of Monarch, Air Berlin and Alitalia and the impact of Ryanair’s mass flight cancellations helped easyJet achieve a 14.4% rise in revenue in the three months to December 31.
The airline reported revenue of £1.24 billion on the back of an 8% rise in passenger numbers to 18.8 million.
Capacity rose 5.5% to 20.4 million seats and load factor jumped by by 2.1 percentage points to 92.1%.
The airline released the figures in its first trading update under new chief executive Johan Lundgren, a former TUI executive.
He said: "EasyJet has seen a positive trading environment based on the strength of its network and customer proposition, capacity reductions and lower growth in easyJet markets, in particular as a result of the bankruptcies of Monarch, Air Berlin and Alitalia as well as the impact from Ryanair’s flight cancellations.
"With its strong balance sheet and significant financial and operational flexibility, easyJet is confident in its ability to drive long-term shareholder returns from its strategy of purposeful investment in securing leading positions in its core markets."
EasyJet also today announced the departure of chief commercial officer Peter Duffy as part of a management shake-up.
Duffy was promoted to the role in October 2016.
A new role of chief data officer is being created to lead and co-ordinate all of the airline’s data management.
Recruitment is underway and in the meantime the teams that reported to Duffy will report to Lundgren.
Easyjet communications director Paul Moore has also left. He has resigned to join ITV, following former chief executive Carolyn McCall.
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.
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