EasyJet's route planning pays off
EASYJET'S strategy of adding flights on routes where rivals cut back has paid off with its forecast of earnings ahead of expectations, helping to propel its shares to a record high.
The Luton-based airline said sales rose 10.5pc to £1.14bn (€1.33bn). It now expects a pre-tax profit of between £450m and £480m this year, up from £317m last year and topping estimates of about £433m.
"This performance was driven by allocating capacity to higher-returning routes, competitor retrenchment and allocated seating," said analyst Mark Irvine-Fortescue.