easyJet PLC
05 August 2005
5 August 2005
EASYJET Q3 STATISTICS
___________________________________________________________________
Three months ending June 2005 June 2004 Change
Passengers (m)1 7.6 6.3 +20.6%
Load factor2 84.9% 82.9% +2pp
Total revenue (£m) 342.9 286.9 +19.5%
Total revenue per seat (£) 38.43 37.86 +1.5%
Average operating aircraft 95 85 +11.8%
ASKs (bn) 8.4 6.8 +22.9%
RPKs (bn) 7.1 5.6 +26.4%
Average sector length (km) 941 898 +4.8%
____________________________________________________________________
Note: easyJet does not publish full quarterly results, but issues a trading
statement for the first and third fiscal quarters as a supplement to our regular
monthly passenger statistics (see separate release for July statistics).
Q3 performance
easyJet had a good third quarter, in the face of a rising fuel price and a
strengthening US Dollar. Unit revenue (total revenue per seat flown) rose by
1.5% when compared with Q3 last year, in spite of Easter falling outside of the
period this year. The revenue performance improved through the quarter, with
unit revenue improvements exceeding 4% in June.
Unit costs (total costs before tax and goodwill amortisation, per seat flown)
rose by 6.5%, but this was after a 61% increase in the Sterling fuel cost per
seat. Unit costs ex-fuel fell by 2.6% when compared with Q3 last year (the
reduction accelerated from the H1 fall of 1.5%).
Within the total revenue, passenger revenue per seat flown rose by 0.8%, while
ancillary revenue per seat flown grew by 12%, reflecting a continuation of the
strong growth seen in the first half.
Commenting, Chief Executive Ray Webster said:
'Since the end of Q3, the Group's performance has been affected by a number of
external factors. On the negative side, the fuel price has continued to rise,
and the US Dollar has strengthened against Sterling. But on the positive side,
these factors have been more than offset by our efforts to improve our revenue
mix, by the growing diversity of our route network, and by the fact that we have
chosen not to impose fuel surcharges on our passengers. In the current market,
our already low fares are now even more attractive.
'The London terrorist bombings affected demand for inbound travel to London but,
barring further incidents, are not expected to have a material impact on the
result for the year.
'We expect unit revenue (total revenue per seat) for the year to finish slightly
ahead of last year. If the spot price of jet fuel and exchange rates stay at
current levels, we now expect our total fuel cost for this financial year to
reach £260m. At the time of our interim results in May, we stated that we
expected our full year reported pre-tax profit 'to be below last year but in
line with current expectations.' Due to the improving revenue position and our
continued focus on cost, we now expect that reported pre-tax profit for the
current financial year will be broadly in line with last year.'
END
For further details please contact:
easyJet plc
Analysts:
Andrew Barker, Investor Relations +44 (0) 1582 525 274
Press:
Toby Nicol, Corporate Communications +44 (0) 1582 525 339
1.Represents the number of earned seats flown. Earned seats include seats that
are flown whether or not the passenger turns up because easyJet is a no-refund
airline, and once a flight has departed a no-show customer is generally not
entitled to change flights or seek a refund. Earned seats also include seats
provided for promotional purposes and to staff for business travel.
2. Represents the number of passengers as a proportion of the number of seats
available for passengers. No weighting of the load factor is carried out to
recognise the effect of varying flight (or 'stage') lengths.
3. Represents unaudited statutory revenue, which includes the invoiced value of
airline and ancillary services, net of passenger taxes and discounts.
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.