easyJet: positive momentum, but no forecasts
(CercleFinance.com) - On Tuesday the low-cost airline easyJet unveiled preliminary results that are in line with expectations for the year to end-September, although did not give financial targets for its new financial year.
For the 12 months to the end of September, the British carrier said it expected to make a pre-tax loss of between 1.135 billion and 1.175 billion pounds, i.e. below, or up to, the consensus of -1.175 billion pounds.
In its summer quarter (Q4), the group said it operated 58% of its capacity from the 2018/2019 fiscal year, which was before the Covid-19 crisis.
In its statement, easyJet said it expects to continue with a favourable momentum in FY 2021/2022, with bookings for the first half of the year already having doubled year-on-year.
However, the group mentions "limited" visibility, due to passengers tending to book their flights at the last minute.
In the face of this "continued" uncertainty, easyJet believes it is not appropriate to provide financial forecasts for FY 2021/2022.
The stock was down 2.3% on Tuesday morning in London following these statements.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
For the 12 months to the end of September, the British carrier said it expected to make a pre-tax loss of between 1.135 billion and 1.175 billion pounds, i.e. below, or up to, the consensus of -1.175 billion pounds.
In its summer quarter (Q4), the group said it operated 58% of its capacity from the 2018/2019 fiscal year, which was before the Covid-19 crisis.
In its statement, easyJet said it expects to continue with a favourable momentum in FY 2021/2022, with bookings for the first half of the year already having doubled year-on-year.
However, the group mentions "limited" visibility, due to passengers tending to book their flights at the last minute.
In the face of this "continued" uncertainty, easyJet believes it is not appropriate to provide financial forecasts for FY 2021/2022.
The stock was down 2.3% on Tuesday morning in London following these statements.
Copyright (c) 2021 CercleFinance.com. All rights reserved.