Business
Half Yearly Report
Half Yearly Report.
About this update from Easyjet Plc
[{"type":"text","content":"\n \nRNS Number : 2004F easyJet PLC 16 May 2017 \n\n \n16 May 2017\neasyJet plc\nResults for the six months ending 31 March 2017\neasyJet delivers strong passenger and revenue growth, rigorous cost control and a resilient operational performance\nStrengthening number one positions\n· Record number of passengers for the first six months of the 2017 financial year at 33.8 million, up 9.0% year-on-year with a record first half load factor at 90.2% (H1 2016: 89.7%), reflecting easyJet's attractive network and affordable fares.\n· Capacity increased by 8.4% as easyJet delivered its strategy of purposeful investment to reinforce and expand its leadership positions in its core markets.\n· Total revenue up 3.2% to £1,827 million with revenue per seat of £48.80 (a decline of 4.9%, and of 9.7% at constant currency1, in line with guidance) reflecting the timing of Easter and high overall market capacity growth. \nRigorous cost control\n· Headline cost per seat excluding fuel at constant currency flat at £38.54, reflecting strong cost control despite high levels of disruption. Headline cost per seat increased by 4.9% to £54.45 (a decrease of 4.1% at constant currency) driven by the weakness of sterling.\n· Headline loss before tax of £212 million includes the estimated impact of the move of Easter into the second half of the year (circa £45 million) and a negative net currency impact of £82 million. Excluding these two items the headline loss before tax would have been circa £85 million. Total loss before tax after non-headline items was £236 million. \nInvesting in the future\n· easyJet has agreed to purchase 30 A321 NEO aircraft under its existing agreement with Airbus, with the first arriving in summer 2018. This is a conversion of 30 existing A320 NEO orders and via increased flexibility within the Airbus agreement will be neutral to current fleet capex commitments. The A321 NEOs will increase easyJet's ability to grow in slot constrained airports and manage costs. \n· easyJet remains on track to confirm possession of a European Air Operator Certificate (AOC) by the Summer and therefore secure its future operations within the European Union.\n· easyJet's business model and strategy ar...