EasyJet reiterates outlook on robust demand

(Sharecast News) - EasyJet reiterated its full-year guidance on Thursday, on the back of robust first-quarter sales and growing demand for summer holidays. Updating on trading, the budget carrier said the first-quarter performance had been in line with expectations.

Available seat kilometres (ASK) capacity rose 9% year-on-year in the three months to December end, while passenger numbers increased 7% and the load factor was two percentage points stronger at 90%. The headline loss widened to £93m, from £61m a year previously, due to investments in two Italian airports.

However, the airline said bookings were "building well" for the summer season and left its full-year outlook unchanged.

EasyJet, which traditionally makes all its profits in the second half of the year, is targeting annual ASK capacity growth of 7%.

It is also expects easyJet holiday customers to grow up to 15%, from a base of 3.1m.

Kenton Jarvis, chief executive, said: "We have seen continued demand for our flights and holidays over the last quarter. Our focus on, and investment in, customer experience and punctuality is driving strong results.

"Bookings are building well for the summer season, with our largest-ever January booking period."