Easyjet 'cautiously confident' of its performance

EASYJET, the biggest operator by passenger numbers at Liverpool John Lennon airport, drove up revenues by 16.7% to £763m in the quarter to December 31, it announced today.

Seat sales rose by 6.9% to 14.7m, helped by the absence of bad weather in comparison with the corresponding quarter a year before. Taking out the effects of last year's heavy snowfalls seat sales were 2.8% ahead.

And passenger numbers for the quarter were 8.1% up at 12.9m, showing a 0.9% increase in the load factor - the amount of available seats sold - of 87.6%.

Today's trading update for the quarter also showed a strong balance sheet, with cash and money market deposits of £1.216bn at the end of the year.

With around 70% of the first half now booked, the percentage increase in revenue per seat is expected to be about the same as seen in the first quarter of the year which, the carrier says, should see it recover most of the £100m increase in its first half fuel bill and contain seasonal first half losses to between £140m and £160m, compared with the £153m loss reported in the first half of last year.

Easyjet chief executive Caroline McCall said today: "Easyjet has made a strong start to the year.

"This is due to firm control of costs, the strength of Easyjet's network, tight capacity discipline, and pricing actions taken in the second half of last financial year."

She added: "The good performance in the quarter has meant we are cautiously confident in our outlook for the business.

"Although the economic environment remains weak, Easyjet's affordable fares and our focus on making it easy for our customers, combined with the actions that management is taking, ensure that Easyjet is well positioned to continue to succeed."

The group said it continues to make "steady progress" in attracting business customers, with 2.3m passengers flying with Easyjet for business in the quarter, an increase of 200,000 compared with the same period last year.

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