EasyJet hails resilient performance

No-frills airline easyJet said it had enjoyed a 'resilient' performance

No-frills airline easyJet said it has enjoyed a "resilient" third quarter as it benefited from rivals slashing capacity and non-UK holidaymakers taking advantage of the strong euro.

The group carried 2.9% more passengers in the three months to June 30, to 11.9 million, with total revenue per seat up 10.9% to £51.41.

It said a 4% reduction in capacity across the market by embattled carriers had helped, while this year's late Easter also provided a fillip.

A 34% hike in revenue from extra charges per seat - such as checked-in baggage and in-flight food - likewise helped the budget airline against the background of tough conditions for the airline sector.

Luton-based easyJet said more than 75% of summer seats were now booked, adding that it expected to make profits in its current financial year despite the industry turmoil.

It is forecasting underlying pre-tax profits of between £25 million and £50 million, although this is a significant drop on the £123 million seen last year.

Andy Harrison, easyJet chief executive, said: "This has been a resilient third quarter and our position has continued to strengthen as we made market share gains across Europe.

"easyJet is continuing to perform relatively well in tough trading conditions and we expect to be one of the few airlines to make a profit this year."

Shares rose more than 3% on Wednesday's results, which also showed total revenues increased by 12% to £721 million in the three months to the end of June.

It saw a 12% rise in passengers from mainland Europe thanks to the strength of European currencies against the pound.