Business
easyJet Trading Update
easyJet Trading Update.
About this update from Easyjet Plc
[{"type":"text","content":"\n \nRNS Number : 8828S easyJet PLC 06 October 2017 \n\n \nEASYJET TRADING UPDATE, 6 OCTOBER 2017\n \n· easyJet delivers record passenger numbers and load factors in summer 2017\n· Headline profit before tax for FY 17 expected to be at the upper end of guidance range, reflecting a continuing improving revenue performance\n· Headline cost per seat excluding fuel and at constant currency expected to be in line with guidance\n· Investment in resilience drives operational improvement\n \neasyJet's leading European network and customer proposition continued to drive passenger and load factor growth in the three months ending 30 September 2017. Passenger numbers for the three months were a record 24.1 million driving a record load factor of 95.6%. Passengers have benefitted from low summer fares across the network, particularly on beach markets from the UK. This is reflected in a year-on-year reduction in revenue per seat at constant currency of 3.7% during the fourth quarter and reduction of 1.4% in the second half, which is slightly better than guidance due to high load factors and strong ancillary revenue performance. \n \neasyJet has grown capacity by 8% in the final quarter compared to prior year, continuing to build market share and number one and number two positions at key airports.\n \nHeadline cost per seat excluding fuel at constant currency is expected to increase by around 1% for the full year, in line with guidance. Headline cost per seat at constant currency including fuel is expected to decrease by 4.4%. Non-headline costs are expected to be c.£23 million1. easyJet remains focused on cost and has continued to drive structural improvements, such as longer-term capacity-related deals with Airports. Planned investment in resilience in operations in the summer months has delivered operational improvement, particularly at Gatwick Airport.\n \nExchange rate movements resulted in a net adverse impact on the Group. Foreign exchange rate movements are now expected to have around a £100 million adverse impact on headline profit before tax compared to the financial year to 30 September 2016. \n \neasyJet's unit fuel2 bill for the financial year to 30 September 2017 is expected to decrease by bet...