easyJet: raises forecasts for summer quarter
(CercleFinance.com) - The low-cost airline has increased its outlook for the summer quarter, anticipating a higher-than-expected capacity utilisation rate, which clearly wooed investors on Tuesday morning, with the share taking off nearly 8% in early trading in London,
Optimistic about its late summer bookings, which the airline said were firmer than expected, particularly thanks to successful destinations such as Faro, Amsterdam and Paris.
It has therefore decided to raise its capacity utilisation rate to about 40% for Q4 to end-September, vs. 30% initially expected, thereby expecting to limit its losses over the current quarter, after a loss of 324.5 million pounds for Q3 to end-June, vs. a profit of 174.2 million pounds a year ago.
The stock has lost almost two thirds of its value YTD, but was up sharply on Tuesday morning.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Optimistic about its late summer bookings, which the airline said were firmer than expected, particularly thanks to successful destinations such as Faro, Amsterdam and Paris.
It has therefore decided to raise its capacity utilisation rate to about 40% for Q4 to end-September, vs. 30% initially expected, thereby expecting to limit its losses over the current quarter, after a loss of 324.5 million pounds for Q3 to end-June, vs. a profit of 174.2 million pounds a year ago.
The stock has lost almost two thirds of its value YTD, but was up sharply on Tuesday morning.
Copyright (c) 2020 CercleFinance.com. All rights reserved.