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EasyJet Plc H1 Performance To Be In Line With Its Guidance - Quick Facts

easyJet Plc (ESYJY.PK,EZJ.L) announced the company expects its first-half performance to be in line with the guidance given in the trading statement on 22nd January 2019, with headline loss before tax of around 275 million pounds. Total first-half revenue is expected to grow by circa 7.3% to circa 2.34 billion pounds with seat capacity increasing by circa 14.5% to circa 46.2 million. Revenue per seat at constant currency is expected to have declined by circa 7.4%, in line with previous guidance of a mid to high single digit decline for the half. Underlying revenue is expected to be positive, the Group said.

Looking forward, easyJet said its second-half outlook is now more cautious as the macroeconomic uncertainty and many unanswered questions surrounding Brexit are together driving weaker customer demand in the market, leading to an increasing softness in ticket yields in the UK and across Europe.

Regarding Brexit, easyJet said it has continued to make good progress in its European ownership requirements (excluding UK shareholders) and has now reached 49.92%.

Johan Lundgren, easyJet Chief Executive said: "easyJet has performed in line with expectations in the first half. We have flown around 42 million customers with a significantly reduced number of cancellations. For the second half, we are seeing softness in both the UK and Europe, which we believe comes from macroeconomic uncertainty and many unanswered questions surrounding Brexit which are together driving weaker customer demand. We are rolling out further initiatives to support our trading and are making significant progress in our Operational Resilience Programme."

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