Easyjet boosted by European demand

LOW-cost airline easyJet forecast a "substantial" improvement in profits today after passenger numbers jumped 9 per cent in its most recent quarter.
By The Newsroom
Published 21st Jan 2010, 08:42 BST

Luton-based easyJet said the bulk of the increase came from outside the UK as it targeted growth markets with expansion at airports such as Milan Malpensa, Madrid Barajas and Paris Orly.

The number of non-UK originating passengers increased by 20 per cent in the final quarter of 2009, accounting for 54 per cent of all passengers.

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Overall, the company carried 11 million customers in the quarter as revenues lifted 10 per cent to 607.5m and average revenue per seat improved by a bigger-than-expected 4.2 per cent to 47.50.

Weather-related disruption closed a number of airports during December, but easyJet said it still managed to fly nearly 90 per cent of its programme.

Chief executive Andy Harrison said: "Economic conditions remain challenging and we continue to expect a tough trading environment.

"However, the underlying performance of the business in the first quarter has been encouraging and easyJet remains on track to deliver substantial profit improvement during 2010."

EasyJet shares opened more than 3 per cent higher today.

Related topics:EasyJetLuton