Business
Business

Easyjet increases its full-year profit forecast

Easyjet plane
Image caption Easyjet enjoyed a busy September

Shares in airline Easyjet have soared 10% after it said its full-year profits would be ahead of earlier expectations.

After stronger than predicted passenger numbers last month, it now expects its pre-tax profit for the 12 months to 30 September to surpass £150m.

This compares with its earlier guidance of between £100m and £150m.

Easyjet's shares were up 38.80 pence to 425.70p in early afternoon trading in London, making it the biggest riser on the FTSE 250 index.

Less ash costs

The airline said it had carried 4.8 million passengers in September, an increase of 8% on the same month in 2009, due to more people flying from the UK to Europe.

Market Data - BBC News

Market Data

Share Prices

Markets

UK markets
UK markets % change Value
Change
-0.19%
7288.17
-13.93
+0.27%
20430.15
+55.76
Europe markets
Europe markets % change Value
Change
-0.10%
540.30
-0.55
-0.10%
5343.57
-5.30
-0.12%
12081.60
-14.81
-0.12%
3341.94
-4.17
+0.10%
9413.60
+9.00
US markets
US markets % change Value
Change
0.00%
26062.12
0.00
0.00%
7895.79
0.00
0.00%
2888.80
0.00
Asia markets
Asia markets % change Value
Change
-0.78%
37290.67
-294.84
+0.56%
27084.66
+151.81
+1.41%
23420.54
+325.87
As of 13:31 18 Sep 2018

Currencies

GBP
% change One £ buys
Change
GBP against Euro
-0.24%
€1.1237
-0.0030
GBP against Yen
+0.25%
¥147.5650
+0.3700
GBP against USD
-0.01%
$1.3158
0.0000
USD
% change One $ buys
Change
USD against Euro
-0.22%
€0.8540
-0.0020
USD against GBP
+0.01%
£0.7599
0.0000
USD against Yen
+0.35%
¥112.2350
+0.3900
Euro
% change One € buys
Change
Euro against GBP
+0.24%
£0.8899
+0.0020
Euro against Yen
+0.48%
¥131.3150
+0.6300
Euro against USD
+0.22%
$1.1710
+0.0030
Yen
% change One ¥ buys
Change
Yen against Euro
-0.48%
€0.0080
0.0000
Yen against GBP
-0.25%
£0.0070
0.0000
Yen against USD
-0.35%
$0.0090
0.0000
As of 13:29 18 Sep 2018

Commodities

Oil
Commodity % change dollars per barrel
Change
Brent Crude Oil Futures
+1.09%
78.90
+0.85
WTI Crude Oil Futures
+1.04%
69.63
+0.72
Gold
Commodity % change dollars per ounce
Change
Gold (Forex Index am fix)
-0.78%
1196.80
-9.40
Gold (Forex Index pm fix)
-0.00%
1201.90
-0.05
Natural Gas
Commodity % change dollars per million BTU
Change
Natural Gas (Henry Hub Futures)
+0.68%
2.83
+0.02
As of 13:32 18 Sep 2018

It said this meant that revenues per seat in the fourth quarter would rise by 6%.

Easyjet also downgraded the financial impact on the business of April's volcanic ash cloud across Europe from £65m to £60m.

However, it said it would have to pay £6m in compensation costs as a result of last month's air traffic controller strikes in France, Spain and Greece.

Airlines analyst Wyn Ellis of Numis Securities said Easyjet's trading update was encouraging.

However, he warned that the airline was still in dispute with its founder, Sir Stelios Haji-Ioannou.

Sir Stelios stood down as an Easyjet director earlier this year in a row over the airline's strategy and flight punctuality.

However, he and his family still own 38% of the business.

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