easyJet’s first-quarter revenue rose 13% to £2.0bn helped by double-digit growth in ticket sales and onboard revenue plus a 36% uplift in the package Holiday segment.
Underlying pre-tax losses narrowed by 52% to £61mn, driven by the improved revenue performance, tight cost controls and favourable fuel prices.
Load factor, a measure of how full its planes are on average, rose from 86.3% to 88.2%. Net debt remained flat at £484mn.
Looking ahead, more seats have already been booked for this financial year compared to at the same point last year.
Second-quarter profit is set to land below consensus estimates largely due to softer pricing on new routes. Despite this, the group still expects to reach underlying pre-tax profits of around £709mn, in line with market forecasts.
The shares fell 4.6% in early trading.
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