EasyJet predicts FY profit

29th Jul 2009 07:49

Budget airline easyJet expects to make a full-year profit of up to £50m after increasing revenue by 12% in the third quarter.Revenue hit £721m in the three months to 30 June, up from £641m a year ago, with the movement of Easter to the third quarter from the second helping revenue per seat rise 10% to £51.42.But despite posting an underlying loss of £129.8m in the first half, the carrier still thinks it will make between £25m-£50m for the whole year. It had already predicted a profit back in May."Economic conditions remain uncertain and obviously August is an important month for easyJet, it is though expected that for the year to 30 September 2009 easyJet will deliver underlying pre tax profit in the range of £25m to £50m," the firm said.Exactly how much it will make depends on the performance of late yields and the euro-sterling exchange rate, added the group.The no frills airline flew 11.9m people during the three months, up 3%, although the number of passengers originating in mainland Europe jumped 12%. Over half its passengers now originate outside of the UK."EasyJet is continuing to perform relatively well in tough trading conditions and we expect to be one of the few airlines to make a profit this year," said boss Andy Harrison.