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EasyJet full year profit to be 495 million pounds

Staff Writer |
EasyJet reported that passengers, or the number of earned seats flown, in the month of September increased 5.2 percent to 6.96 million passengers from 6.61 million passengers in the same month last year.

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For the month, load factor, which stands for the number of passengers as a proportion of the number of seats available for passengers, declined 2 percentage points to 91.1 percent from 93.1 percent a year ago.

The company further said that in the fourth quarter ended September 30, strong profit before tax was achieved despite major external shock events and disruption. Passenger numbers for the three months were 22.0 million, with a strong load factor of 93.9%.

The company said passengers have benefitted from the low fares across network with revenue per seat at constant currency decreasing by 8.7%. easyJet has grown capacity by 6.1% in the quarter.

For the full year to September 30, easyJet expects profit before tax to be the range of 490 million pounds to 495 million pounds. easyJet remains committed to declaring a full year dividend based on a payout ratio of 50% of post-tax income. As previously guided, capacity is expected to grow by around 8%.

Regarding the current trading, the company said approximately 45% of seats are now sold for the first quarter, in line with last year.

Revenue per seat in the first quarter continues to be down year on year and is currently expected to be broadly in line with the reduction seen in the fourth quarter 2016.

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