easyJet shares jump on higher profit forecast
06.10.10
easyJet shares jumped by over 9 percent this morning after the budget airline increased its profit forecast. Its pre-tax profits are likely to to be slightly ahead of £150m for the year to September 30, up from its previous estimate of £100m to £150m.
For the quarter to September 30, easyJet said total revenue per seat at constant currency is expected to be up by at least 6% compared to the same period last year. This reflects good performances across its network, but particularly on UK to European beach and city routes.
The cost of the volcano disruption is likely to be £60m, £5m less than previously indicated. Passenger numbers in September were 8.0 percent higher than for the same month last year.
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