Easyjet boosts profit guidance after strong quarter

James Booth
Full-year expectations revised up after passenger numbers soar (Source: Getty)

Budget airline Easyjet has raised its profit guidance for the year after a strong third quarter where passenger numbers hit 24m.

The airline said it expected profit before tax of between £550m and £590m for the year, having previously guided at £530m to £580m.

Revenue in the quarter to 30 June increased by 14 per cent to £1.6bn.

Passenger numbers reached 24.4m and revenue per seat was up 4.8 per cent.

Its new Berlin operation at Tegel Airport is operating below expectations with revenue per seat weaker than previously guided and total loss for the operation in the year expected to be £175m rather than the estimated £160m.

Chief executive Johan Lundgren said: "Easyjet has delivered a strong performance during our third quarter driven by robust customer demand. The airline continues to go from strength to strength attracting more than 24 million customers in the period who chose to fly with us for our leading network of top European destinations, low fares and outstanding service.”

Easyjet shares were up 2.4 per cent in early trading.