Easyjet expects profits to meet forecast

British airline Easyjet reiterated that it still expected to see full-year pretax profit growth of 40 to 50 per cent while reporting…

British airline Easyjet reiterated that it still expected to see full-year pretax profit growth of 40 to 50 per cent while reporting an 8.4 per cent rise in August passenger traffic.

The airline, Europe's second-largest carrier after Ryanair, said its August load factor was 89.2 per cent.

The group said it cancelled a total of 469 flights in August and expected the impact from the cancellations, passenger assistance and compensation over the period of the disruption to be about $7.5 million.

Flights from London were disrupted last month following a security alert imposed after police said they had foiled a plot to bomb planes.

READ MORE

Budget carriers rely on rapid turnaround times at airports to maximise profits, and the delays from extra security checks have slowed operations for all carriers.

Shares in Easyjet closed at 467 pence yesterday, valuing the group at around £1.9 billion.