easyJet braced for more intense competition driving down fares amid low fuel costs

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easyJetGETTY

easyJet girded itself for more intense competition driving down fares

The budget airline gathered its profit forecasts for this year from £375 million to between £380 million and £420 million after compelling Easter trading fuelled a 16 per cent rise in third-quarter proceeds to nearly £1.4billion. 

EasyJet carried 22.3 million fares, up 10.8 per cent on the previous year, while its aircraft flew with 93.1 per cent content. 

Dame Carolyn McCallGETTY

easyJet chief administrator, Dame Carolyn McCall

Khamsin clouds are gathering as low fuel costs encourage rivals to offer myriad seats to the Mediterranean and across Europe. 

Our progress this year has permitted us to upgrade this year’s [pre-tax profit] forecast

Dame Carolyn McCall — easyJet chief supervisor

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easyJet raised its profit forecasts for this year from £375m to between £380m and £420m

«Although we hope for capacity to continue to put pressure on yields, our progress this year has assigned us to upgrade this year’s [pre-tax profit] forecast and demonstrates that after a onerous 18 months of external challenges EasyJet once again has realistic momentum.»

Shares fell 84p to 1334p.

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