easyJet: gives 'more cautious' outlook on Brexit uncertainty
(CercleFinance.com) - Low-cost British airline easyJet said on Monday that its outlook was now "more cautious" regarding the second half of its financial year 2018/2019.
The company said that macroeconomic uncertainty and "many unanswered questions" around Brexit together result in weaker customer demand, as well as increasing softness in ticket yields in the UK and across Europe.
For the six months to 31 March, easyJet expects to deliver a H1 performance in line with its guidance, with an expected H1 headline loss before tax of around 275 million pounds, it said.
First-half revenue is expected to grow by 7% to 2.34 billion pounds, it added.
However, the group is not changing its full-year guidance, with headline cost per seat excluding fuel at constant currency still expected to be pretty flat, the airline said.
However, investors punished the share, the stock plunging 8.2% at 1,025.5 pence in morning trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The company said that macroeconomic uncertainty and "many unanswered questions" around Brexit together result in weaker customer demand, as well as increasing softness in ticket yields in the UK and across Europe.
For the six months to 31 March, easyJet expects to deliver a H1 performance in line with its guidance, with an expected H1 headline loss before tax of around 275 million pounds, it said.
First-half revenue is expected to grow by 7% to 2.34 billion pounds, it added.
However, the group is not changing its full-year guidance, with headline cost per seat excluding fuel at constant currency still expected to be pretty flat, the airline said.
However, investors punished the share, the stock plunging 8.2% at 1,025.5 pence in morning trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.