Slide 1: Q1 FY'15 Analyst & Investor presentation
Q1 FY’15 Analyst & Investor presentation 3 months to 31 December 2014 27 January 2015 1 1
Slide 2: Continued strong progress
Continued strong progress 1. Drive demand, conversion and yields across Europe • Passenger numbers up by 4.1% • Load factor up 1ppt to 89.7% • Revenue per seat up 3.7%(1) 2. Maintain cost advantage • Cost per seat (excluding fuel) increase of 3.7%(1) • Cost per seat (including fuel) increase of 1.6%
Slide 3: Strong revenue performance
Strong revenue performance Q1 ‘15 Q1 ‘14 Change Passengers (m) 14.9 14.3 4.1% Load factor (%) 89.7% 88.7% 1.0pp Seats (m) 16.6 16.1 2.9% Average sector length (km) 1,089 1,089 - Seat revenue (£m) 916 883 3.8% Non-seat revenue (£m) 15 14 4.2% Total revenue (£m) 931 897 3.8% Total revenue per seat (£)
Slide 4: Revenue drivers
Revenue drivers • Disciplined management of capacity • Capacity growth of 2.9% in the quarter • Business passenger initiative • First business traveller television advertisement • Continued investment in digital and revenue management initiatives • Performance of allocated seating • Yield management
Slide 5: Cost performance – on track
Cost performance – on track H1 2015 FY 2015 Q1 2015 Q1 2015 Reported Constant currency Guidance Guidance Constant currency Constant currency Cost per seat 0.2% 3.7% c.2.5% c.2.0% excluding fuel Decrease Increase Increase Increase Cost per seat 2.0% 1.6% including fuel Decrease Increase Q1 ‘15 as exp
Slide 6: Hedging update
Hedging update Fuel US dollar Euro Swiss Franc requirement requirement surplus surplus Six months to 31 March 2015 91% 84% 93% 82% Average rate $957 metric / $1.59 €1.19 CHF1.47 tonne Full year ending 30 September 2015 84% 83% 84% 73% Average rate $936 metric / $1.58 €1.18 CHF1.47 tonne Full year en
Slide 7: Forward bookings
Forward bookings % Seats sold * 91% Winter 13/14 Winter 14/15 89% 74% 74% Oct Nov Dec Jan Feb Mar H1 H1 (Oct ‘14 to Mar ‘15) 7 * As at 21-01-15
Slide 8: Outlook
Outlook Capacity (seats flown) • H1: c.+3.5% (before disruption) • FY: c.+5.0% (before disruption) Revenue per seat (constant currency) • H1: c. +2.0% Cost per seat ex fuel (constant currency) • H1: c.+2.5% (assuming normal disruption levels) • FY: c.+2.0% (assuming normal disruption levels) FX • H1
Slide 9: Upcoming events
Upcoming events Event Date Annual General Meeting 12 February 2015 Half Year Results 12 May 2015 Q3 Trading Statement 22 July 2015 Full Year Results 17 November 2015 9
Slide 10: Disclaimer
Disclaimer This communication is directed only at (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001; or (ii) high