easyJet’s solid quarter

During the quarter ending 31 December 2015, easyJet passengers carried increased by 8.1% to 16.1m, as capacity grew by 7.3% to 17.8m seats and the load factor increased by 0.6 percentage points to 90.3%.

The airline reports that strong revenue per seat performance in October was offset by the impact of the tragic events in Egypt and Paris, resulting in lower demand and yield in November and December.  Forward bookings for the second quarter are showing a marked improvement in revenue per seat compared to November and December.  For the first quarter as a whole revenue per seat was down by 3.7%.

With flying no longer a credit business (it used to be in years gone by) for the carriers with most passengers paying up front cash the airlines money market deposits were £743m and net cash was £266m as at 31 December 2015.

Never seemingly happy with whatever CEO Dame Carolyn is doing, founder and largest shareholder, Stelios Haji-Ioannou, is now calling for the dividend to be increased.

In another move deputy chairman Charles Gurassa, at one time tipped for the top job at BA, has been appointed by OFCOM as chairman of the television station Channel 4.  www.easyjet.com

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