Weather Tonight: 10°c Heavy rain Morning: 12°c Sunny spells

Business

HEADLINES:
EasyJet
Up and up: EasyJet says it carried 4.1m passengers in June, a fifth more than a year ago

EasyJet passengers are undaunted by downturn

Robert Lea
07.07.08

People are still flying in their millions and are prepared to pay extra to do so, easyJet is claiming.

Britain's biggest airline said today it carried 4.1 million passengers in June, nearly a fifth more than a year ago.

While much of that has come from flying more services around Europe, the budget carrier, which is Gatwick's largest operator, was able to report that even with the extra aircraft and services, its planes flew on average fuller than 12 months ago, recording a "load factor" of 86.9%. Even more importantly for easyJet's bottom line, the airline indicated that it has successfully put up fares to offset the worst ravages of the oil price.

The rprice of crude has soared to more than $140 a barrel and is threatening to wipe out many carriers' profits this year.

"Total revenue per seat continues to improve," the airline said.

Encouragingly for those airlines fearing passenger usage may slump, easyJet added: "To date nearly 70% of seats for the second half of the year have been sold."

Broker Credit Suisse said that it indicates demand is holding up this summer and that general lower consumer sentiment is not impacting on either demand or price for easyJet.

The easyJet report follows less encouraging news from British Airways, which reported declines of more than 3% in passenger numbers in June, including first and business class cabins where it makes most of its profits.

Reader views (0)

 Add your view

No comments have so far been submitted.


Add your comment

 

Your email address will not be published

Terms and conditions make text area bigger You have  characters left.


 
Market Roundup
TUESDAY UPDATE

Gold’s historic high leads to profit-taking among miners

The gold price ran into profit-taking despite further slippage in the value of the dollar

More



City Spy, cityspy@standard.co.uk

Xstrata’s crafty accounting...

“A curious — and unusual — item in the accounts of ambitious Anglo-Swiss mining group Xstrata has been noticed by City Spy

More

CitiDirect.co.uk - Directory Enquiry Service for UK Businesses

CitiDirect.co.uk - Directory Enquiry Service for UK Businesses
Service Area or postcode