Posted on: 03 October 2013 by Mark Howells
easyJet has reported on the fourth quarter of its financial year which closed on 30 September 2013, with a trading update and pre-close statement.
Revenue per seat at constant currency for the three months to 30 September 2013 is expected to grow by around 6%, driven by strong demand in July and August. This is despite political unrest in Egypt and the £25 million adverse impact in the second half of the year from the movement of Easter which fell on 31 March 2013, a week earlier than in 2012.
Cost per seat excluding fuel growth at constant currency of around 4% is expected to be in line with the guidance issued on 24 July 2013, with the year-on-year increase driven primarily by higher charges at regulated airports. Disruption in the three months to 30 September 2013 was minimal.
easyJet expects unit fuel cost in the six months to 30 September 2013 to be approximately £13 million more favourable than the six months to 30 September 2012; and that the impact of exchange rate movements (including those related to fuel) will have an adverse effect of around £5 million compared with the six months to 30 September 2012.
The airline’s board expects a pre-tax profit for the twelve months ended 30 September 2013 of between £470 million and £480 million compared with the previous guidance of £450 million to £480 million.
easyJet will publish its full year results on 19 November 2013 and will provide further details on its performance in the twelve months to 30 September 2013.
Commenting on the pre-close statement, Carolyn McCall, easyJet’s chief executive, stated, “easyJet has delivered a strong performance in the last twelve months due to management action to generate value to our customers and maintain a tight control of costs combined with an unusually benign capacity environment.”