easyJet and Flybe financials

Luton-based easyJet said last week that it expects annual profit to rise from £581m to between £620m and £660m, despite the “uncertain macro and operational environment caused by the situation in Greece and events in North Africa and the various threats of industrial action.”  Air traffic industrial problems in France have not helped matters either.  The shares still hover around the 1,750p figure, compared with 500p just three years ago.  All staff participate in a bonus scheme.

easyJet notes its fuel bill is forecast to come down by £100m to £115m compared with the previous 12 months. 

Europe’s largest regional carrier Exeter-based Flybe was likewise in a bullish mood announcing “a positive start” to the financial year when it too published quarterly figures.

Passenger numbers were up 9.8% at 2.1m, but this was outstripped by a 12.3% increase in capacity, resulting in a load factor that dropped 1.7% to 74.1%.  The first quarter saw a 0.7% improvement in passenger yield to £70.33.  The airline noted that its Finnish episode was well behind it although it was still encumbered with up to seven Embraer 195s surplus to requirements Saad Hammad, Chief Executive Officer, calling them “a legacy issue.”  See also Flybe Management Changes in this issue.   www.easyjet.com    www.flybe.com

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