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EasyJet basks in warm glow of record August thanks to late bookings EasyJet basks in warm glow of record August thanks to late bookings
(about 2 hours later)
Holidaymakers jetting off to take advantage of the strong pound and escape last month’s rain helped easyJet notch up a record August and is set to see the airline deliver better than expected profits.Holidaymakers jetting off to take advantage of the strong pound and escape last month’s rain helped easyJet notch up a record August and is set to see the airline deliver better than expected profits.
The no-frills carrier said it flew 7.1 million passengers last month after a surge of late bookings, as Britons headed for beach and city destinations across Europe, boosted by the strength of the pound against the euro.The no-frills carrier said it flew 7.1 million passengers last month after a surge of late bookings, as Britons headed for beach and city destinations across Europe, boosted by the strength of the pound against the euro.
EasyJet upped its annual profit outlook to between £675m and £700m for the year to September 30 after the bumper August performance, which is likely to see the group post its fifth successive year of record annual pre-tax profits. EasyJet upped its annual profit outlook to between £675m and £700m for the year to 30 September after the bumper August performance, which is likely to see the group post its fifth successive year of record annual pre-tax profits.
It was previously expected to report profits of between £620m and £660m. Paul Moore, an spokesman for easyJet, said: “People have realised that the strong pound against the euro is really making their money go further on holiday.” It was previously expected to report profits of between £620m and £660m. Paul Moore, a spokesman for easyJet, said: “People have realised that the strong pound against the euro is really making their money go further on holiday.”
The most popular destinations for sunseekers were Málaga, Alicante, Faro and Palma de Mallorca, while Barcelona was also a top pick for those looking for a city and beach break, the airline said.The most popular destinations for sunseekers were Málaga, Alicante, Faro and Palma de Mallorca, while Barcelona was also a top pick for those looking for a city and beach break, the airline said.
The pound has surged against the euro over the past year due to the economic woes across Europe and expectations of an interest rate rise in the UK. The pound has surged against the euro over the past year due to the economic woes across Europe and expectations of an interest rate rise in the UK. In currency markets, sterling is worth €1.36 at today’s prices, having reached a high of €1.44 in the past year.
In currency markets, sterling is worth €1.36 at today’s prices, having reached a high of €1.44 in the past year. August’s passenger numbers marked a 6.8% increase on the year before and the second consecutive month the group has carried more than 7 million fliers. The airline also said its load factor – a measure of how well planes are filled – was a record 94.4% last month.
August’s passenger numbers marked a 6.8% increase on the year before and the second consecutive month the group has carried more than 7 million fliers. The carrier also said its load factor – a measure of how well planes are filled – was a record 94.4% last month.
Moore said bookings were made later this year after the beach attack in Sousse, Tunisia, in June and the uncertainty surrounding Greece affected travel earlier in the summer. He said last month’s rain and colder than average temperatures for the time of year added to the exodus abroad.Moore said bookings were made later this year after the beach attack in Sousse, Tunisia, in June and the uncertainty surrounding Greece affected travel earlier in the summer. He said last month’s rain and colder than average temperatures for the time of year added to the exodus abroad.
Luton-based easyJet said surging revenue growth in August and a robust performance expected for September would more than offset the higher costs faced by the business this year, including disruption across the network, particularly in April, the impact of the two fires at easyJet’s Rome Fiumicino airport base and its £8m settlement with Eurocontrol.Luton-based easyJet said surging revenue growth in August and a robust performance expected for September would more than offset the higher costs faced by the business this year, including disruption across the network, particularly in April, the impact of the two fires at easyJet’s Rome Fiumicino airport base and its £8m settlement with Eurocontrol.
Carolyn McCall, easyJet’s chief executive, said: “EasyJet was best placed to maximise the strong late summer demand from UK passengers to get away to beach and city destinations across Europe and will enable the airline to set new records for full-year revenue and profit.”Carolyn McCall, easyJet’s chief executive, said: “EasyJet was best placed to maximise the strong late summer demand from UK passengers to get away to beach and city destinations across Europe and will enable the airline to set new records for full-year revenue and profit.”