EasyJet share price up as airline posts increase in passenger numbers

on Nov 5, 2015

EasyJet’s (LON:EZJ) shares have been in demand this morning after the budget airline revealed improved traffic figures for October. During the month, the group carried 6.4 million passengers, a 9.7 percent increase compared to the number of seats booked in the same month last year, but a 3.2 percent decrease on September.

The load factor, the number of passengers as a proportion of the number of seats available for passengers, was 93.3 percent, up from 90.9 percent a year earlier. In the last 12 months, easyJet had carried just over 69 million passengers in total, the blue-chip group added.
EasyJet also noted that its full-year profit before tax guidance continued to be between £675 million and £700 million. The company will report its annual results on November 17. According to IG, analysts are anticipating revenue of £4.71 billion and adjusted net income of £544 million. These forecasts equate to a 4.2 percent rise in revenue and a 20.8 percent rise in adjusted net income. The carrier will also reveal its second-quarter figures on the same date, and estimates point at revenue of £2.95 billion and adjusted net income of £517 million, compared to the first-half revenue and adjusted net income of £1.76 billion and £5 million, respectively.
Investors have reacted positively to the release of EasyJet’s traffic statistics today, sending the share price 1.62 percent higher at 1,760.00p as of 10:40 GMT. Meanwhile, the FTSE 100 was 0.39 percent down at 6,387.88 points.

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