EASY POST A LOSS !
Subject:
Company: easyJet PLC
Date: Thu 9th Jan 2003 7:13:58
Country:
Industry:
easyJet chief warns of H1 loss
LONDON (AFX) - easyJet PLC, Europe's largest low-cost airline, will report a
loss for its first six months to the end of March, Ray Webster, chief executive,
said in an interview with the Financial Times.
The airline came under heavy pressure from investors in early trading
yesterday amid concerns sparked by disclosure of its December traffic figures.
EasyJet had a lower level of capacity utilisation last month with the higher
share of empty seats reflecting in part the rapid 44 pct growth in the airline's
capacity year-on-year, which outpaced a 38.6 pct rise in passenger volumes.
"We are watching very carefully for changes in consumer demand, but it is
early days. There is no sense of any problems yet," Webster is reported as
saying.
ING equity analysts lowered the bank's recommendation for easyJet shares
from "hold" to "sell."
The bank said the traffic figures were "slightly disappointing" and said it
had "doubts" about the airline's explanation for weak yields in the current half
year.
"We remain nervous of our profit forecasts," the said.
ml/rn