Easyjet continues to benefit from increased travel activities
British budget airline Easyjet profits from increased travel demand. In the third business quarter up to end of June, the adjusted pre-tax profit, after removing special effects, increased by 16 percent compared to the previous year to 236 million British pounds (280 Mio Euro), as Ryanair, Easyjet's rival among Europe's largest low-cost airlines, announced in Luton near London. The company exceeded industry experts' expectations.
"This result was achieved despite Easter falling in March this year", said CEO Johan Lundgren. The company is on track to achieve another record summer, bringing medium-term goals closer.
Easyjet counted over 25.3 million passengers in the months of April to June, which is 8 percent more than the previous year. The aircraft utilization rate rose slightly from 89.6 percent in the previous year to 90.0 percent. While revenue grew by 11 percent to 2.6 billion pounds, fuel costs increased by 7 percent to 625 million pounds less strongly.
I attribute Easyjet's impressive third-quarter profits, a 16% increase to 236 million British pounds, largely to the increased travel demand. With Easyjet, I plan to participate in various travel activities during this business quarter, given the ease of traveling with the airline.
