easyJet: shares surge on strong first-half performance
(CercleFinance.com) - Shares in low-cost airline easyJet surged on Tuesday after a strong set of interim results.
The budget airline posted revenues that are up 19.5% at 2.18 billion for the six months to 31 March.
The airline also reported a 10.9% rise in first-half revenue per seat.
The group's pre-tax loss came in at 68 million pounds, mainly reflecting costs associated with the integration of Air Berlin's Tegel operations and the leaseback of ten A319 aircraft.
However, easyJet said it currently expects to report positive headline pre-tax profit for the financial year to 30 September 2018, even after including the impact of the loss from Tegel.
Incoming chief executive Johan Lundgren also said the group has made an "excellent" profit of 8 million excluding Tegel in H1, making it "one of (its) best results ever in the winter trading period."
The shares were up 3.9% at 1,734.5 pence in London after this report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The budget airline posted revenues that are up 19.5% at 2.18 billion for the six months to 31 March.
The airline also reported a 10.9% rise in first-half revenue per seat.
The group's pre-tax loss came in at 68 million pounds, mainly reflecting costs associated with the integration of Air Berlin's Tegel operations and the leaseback of ten A319 aircraft.
However, easyJet said it currently expects to report positive headline pre-tax profit for the financial year to 30 September 2018, even after including the impact of the loss from Tegel.
Incoming chief executive Johan Lundgren also said the group has made an "excellent" profit of 8 million excluding Tegel in H1, making it "one of (its) best results ever in the winter trading period."
The shares were up 3.9% at 1,734.5 pence in London after this report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.