EasyJet warns economic conditions “remain challenging”
January 22nd, 2010 by elisa

EasyJet Boeing 737 - 2004 by Pex Cornel.

Easyjet aircraft picture by Flickr User Pex Cornel

EasyJet has warned that economic conditions “remain challenging” and the budget carrier continues to expect a tough trading environment. The forecast came as the airline reported total revenue up by 10.5% to £607.5 million in the three months to 31st December.

EasyJet’s first half performance and consequently the 2010 first half pre-tax result is expected to be a loss in the range of £80 million to £95 million, described as a “significant improvement” compared to the first half of the prior financial year.

“Economic conditions remain challenging and we continue to expect a tough trading environment, however, the underlying performance of the business in the first quarter has been encouraging and EasyJet remains on track to deliver substantial profit improvement during 2010.” the airline said.

Chief executive Andy Harrison said: “EasyJet was the best performing European airline during 2009 because we offer the lowest fares to the most convenient airports. EasyJet has continued to deliver a superior performance into the first quarter of our new financial year. The strength of customer demand has allowed us to grow passengers flown by nearly 10% with virtually no yield deterioration, slightly ahead of our initial expectations.

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