Last year the air carrier posted a full-year pre-tax profit of £317 million, and the company expects this year’s figure to come in between £470 and £480 million. The firm also estimated that revenue-per-seat on a constant-currency basis will increase by 6%, even though the political uncertainty in Egypt impacted North African bookings. easyJet stated that more than 25% of seats for the first half of the next financial year have been sold, and this is in line with last year’s figure.
The airline also announced that it is has hedged 67% of its exposure to jet fuel. There is a high correlation between crude oil and jet fuel, so when oil prices spiked during the Syrian situation this impacted easyJet’s bottom line. The airline also has exposure to the US dollar, and it has hedged 78% of this.
easyJet is the second-largest budget airline in Europe after Ryanair, which recently stated it will miss its full-year targets. This could mean the gap between the two airlines is narrowing.