Low-cost airline easyJet Plc (ESYJY.PK,EZJ.L) reported total loss before tax of 68 million pounds for the six months ending 31 March 2018, narrower than loss of 236 million pounds in the previous- year period. Basic loss per share was 13.7 pence, compared to loss per share of 48.9 pence in the prior-year period.
The latest period's results principally reflect non-headline costs associated with the one-off integration of Tegel operations and the sale and leaseback of ten A319 aircraft.
EasyJet delivered headline loss before tax of 18 million pounds (headline loss of 0.43 pounds per seat, narrower than loss of 212 million pounds (headline loss of 5.65 pounds per seat) last year.
At constant currency, easyJet delivered headline loss before tax of 32 million pounds during the period. Basic headline loss per share was 3.3 pence, compared to loss of 43.8 pence last year.
First-half total revenue grew 19.5 percent to 2.18 billion pounds from 1.83 billion pounds in the year-ago period.
Seats flown grew by 4.6 percent. Total revenue per seat rose 10.9 percent to 54.10 pounds. At constant currency, revenue per seat increased by 8.3 percent.
Looking ahead, easyJet currently expects headline profit before tax for the financial year to 30 September 2018, including the impact of the Headline loss from Tegel, to be in the range of 530 million pounds to 580 million pounds.
easyjet said that its ex-Tegel capacity growth in the second half of the year is forecast at about 5 percent and revenue per seat at constant currency growth in the second half is expected to be slightly positive.
Full year headline cost per seat excluding fuel at constant currency, assuming normal levels of disruption in the second half, is expected to increase by about 2 percent.
At Tegel, the company now expects to deliver a combined headline and non-headline impact that is within the 160 million pounds previously guided. Headline loss before tax is expected to increase to between 75 million pounds and 95 million pounds.
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