Easyjet to top profit guidance

6th Oct 2010 08:16

Shares in Easyjet took off after the no-frills airline said it expects profits this year to come in slightly above its previous forecast after lower volcano ash costs and better demand for European short-haul flights.Total revenue per seat at constant currency for the quarter ended 30 September 2010 also increased by 6% over the same period last year after a good performance on the UK to European beach and city routes.Easyjet said 4.8m passengers flew with the airline in September, an 8% rise from the same month last year.It now expects pre-tax profits for the year to 30 September to come in slightly above £150m, having previously pointed towards a range of £100m to £150m.European traffic controller strikes will cost £6m in compensation for cancelled flights, but this will be offset by a £5m reduction in the cost of the Icelandic volcanic disruption to £60m from £65m.'This robust financial performance in a tough trading environment is a tribute to easyJet's unique blend of the lowest prices to the most convenient airports,' said chief executive Carolyn McCall.