easyJet posts rising revenues; forecasts lower losses

24th January 2013, Comments 0 comments

British no-frills airline easyJet announced on Thursday a rise in quarterly revenues on higher fares and demand for its routes across Europe, adding that it expected to contain first-half losses.

EasyJet said total sales climbed 9.2 percent to £833 million ($1.319 billion, 991 million euros) in the three months to December 31 compared with the equivalent period in 2011.

"EasyJet's total revenue for the first quarter grew... driven by strong growth in unit revenues and improved load factors," the carrier said in a trading statement.

Group chief executive Carolyn McCall added: "Although the economic environment remains challenging, easyJet's strong customer proposition, combined with the actions that management are taking ensures that easyJet is well positioned going forward to deliver sustainable growth and returns."

EasyJet said that with about 80 percent of its seats covering the group's first-half period already booked, the airline expects to contain its predicted interim pre-tax losses to between £50 million and £75 million.

This compares with a first-half losss of £112 million in 2011/12.

European airlines tend to suffer losses over the northern hemisphere autumn and winter period owing to weaker demand for holiday travel.

© 2013 AFP

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