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easyJet profits to hit 15-year high

The company is expecting a 15-year high profits return after a strong summer

Low-cost flyer easyJet has cut through the grey clouds of economic doom and gloom to announce a 15-year high profits forecast. The results are the consequence of a better than expected summer season.

Chief Executive Carolyn McCall told Sun City: “We had an extremely good August, a good September. The short-break market has done well for us as well as the City routes. I’m loving this job.”

The company’s commercial performance continues to be robust across the network, with particular strength on city routes used by business and short break leisure travellers. As the demand drives ticket prices higher, easyJet is now forecasting full-year profits of £240million to £250million.

Looking forward, a third of seats in the first quarter of the year ending 30 September 2012 are now booked, a similar level to the prior year, and total revenue per seat continues to show improvement versus the prior year albeit at a lower rate of growth than the strong fourth quarter of financial year 2011.