EasyJet profits climb as package holidays sell well despite price rise [Yahoo! Finance Canada]
EASYJET PLC S/ADR (ESYJY)
NASDAQ:AMEX Investor Relations:
corporate.easyjet.com/investors.aspx
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Source: Yahoo! Finance Canada
Europe's second-biggest budget airline upgraded its outlook for its holidays division, where it raised prices by an average of 5% to £698 for each break. Its most popular package holiday destinations were Mallorca, Tenerife, Costa Blanca, Dalaman and Lanzarote. Top city breaks included Amsterdam, Paris, Prague, Krakow and Barcelona. Analysts said the results indicated that consumers saw family holidays as “almost sacrosanct” despite a challenging macroeconomic environment. EasyJet said it had invested in longer leisure and city routes, to Cape Verde, Marrakech, Turkey and Egypt. It opened new bases at Milan Linate, Rome Fiumicino and London Southend, while two underperforming bases, Toulouse and Venice, were closed. The company's headline pre-tax profit rose by 9%, or £55m, to £665m in the year to 30 September. It said the wider geopolitical, economic and competitive environment remained difficult for its airline, particularly over the winter. Airline revenue climbed by 6%
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- easyJet (OTCMKTS:ESYJY) was upgraded by analysts at Sanford C. Bernstein from a "market perform" rating to an "outperform" rating.MarketBeat
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