
- easyJet’s third-quarter revenue rose 11% to £2.6bn.
- Operating profit of £234mn, up 16%.
- Net cash up 50% to £456mn.
Aarin Chiekrie, equity analyst, Hargreaves Lansdown:
“easyJet’s third-quarter numbers landed a little better than expected. That’s a welcome relief after disappointing numbers from Ryanair earlier this week caused some share price turbulence for UK airlines. Revenue moved 11% higher in the period as the group’s increased capacity was filled by a growing number of passengers. The group’s striking ability to sell extras to existing passengers also contributed to top-line growth. These include things like extra baggage, legroom, and food and are a great way to grab a larger share of sunseekers’ budgets.
Fuel costs remained broadly flat in the period, helping the revenue uplift to fuel double-digit pre-tax profit growth which beat market forecasts by 8%. Looking to the final stretch of the year, fourth-quarter bookings are heading in the right direction, with nearly 70% of seats sold despite the increased capacity on offer. That’s given CEO Johan Lundgren the confidence to expect another record-breaking summer, taking the group one step closer to its medium-term targets.”
An independent Non-Executive director of Hargreaves Lansdown plc is also an Independent Non-Executive Director of easyJet plc.
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