RNS
 

EASYJET INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 30 JUNE 2011


Highlights (figures below are for the quarter ended 30 June 2011):


· Total revenue grew by 23.2% to £935 million

· Number of seats flown rose by 17.1% to 16.7 million, load factors improved by 0.2 percentage points to 86.3% and sector length declined by 1.6%. There was a 17.3% growth in passengers (8.8% growth excluding the impact of the 2010 volcano)

· Total revenue per seat grew by 5.2% to £56.02, up 4.6% on a constant currency basis. Passenger revenue grew 3 by 2.5% to £44.37 per seat as capacity investments made in F'10 and the first half of F'11 began to mature. Ancillary revenues grew strongly up 17.0% per seat to £11.65 as a result of management actions taken in the second quarter

· easyJet had £112 million of net cash as at 30 June 2011

· On Time Performance continues to improve and was above 80% for the network in the quarter

· Continued good progress in implementing the strategy outlined last November including the launch of a flexible fare on easyJet.com to enable our 'travelling on business' initiatives. The number of passengers travelling with easyJet on business in the quarter increased by 20%

· August is the important trading month for easyJet but with over 75% of summer seats now sold we expect at current fuel and exchange rates4 to deliver a pre-tax profit for the year ended 30 September 2011 of between £200 million and £230 million assuming normal conditions which approximates to a ROCE for the year of between 10% and 12%

Well if Stelios isn't impressed by this progress he really needs to sell out his stake in the airline and move on.

It this point no, but if you read between the lines of what has happened with the recent AA orders, you might see what I have been told.

Maybe you should look at the share price back in november last year. Also do you have any idea what would happen to the share price and value of the company if he and his family did sell up. The share prices hence value of the company would :mad:up.
On the plus side the share price is up some 18%, which only makes up for the last weeks of sliding.
fr-

FR-

I understand exactly what happens to share price and market cap when a major shareholder sells out. However, when irreconcilable differences are apparent between shareholder and board that can still represent the best course of action for both parties from a long-term perspective. Do you really believe that the long-running feud between Stelios and the company is not at least partially responsible for the disappointing share price action to date which you highlight? This is a boil which needs to be lanced despite the pain implied in the short term.

Of course, perhaps your personal sympathies are aligned with those shareholders and long-side traders whose interests are best served by short-term share price appreciation (followed by correction) rather than safeguarding the long term stability and prosperity of the company. I can see merit in that point of view with regard to those adversely affected by short term pain for long term gain. Having said that, there are ways for a large shareholder to negotiate a brokered deal for his exit when the underlying company is attractive (marketable) and well-managed; dumping shares into the open market is not the only course of action available in a situation like this.

Of course, an alternative explanation for your own stance might be that someone using the handle 'FR-' may have another reason for endorsing the prospect of a shrinking EasyJet!!! But that is another story ...

SHED.

Hi all, first post here, i've been lurking for a while though :cool:

I work in the rail industry and follow a roster working different routes each day. I wondered how easyjet do this with pilots? Does anyone know how it's decided what flights a pilot will do? Does he always return to his home base? Also, more specifically how do the smaller airport flights such as Bristol and Leeds/Bradford work? Do pilots based at a larger airport do these flights sporadically or does every airport have it's own pilots?

Thank you! :)

Hi...i'm not an EZY pilot but EZY cabin crew but the principle is by and large, the same.

BRS is a crew base so operations out of there are by BRS based crew apart from the odd flight they may operate in from another Easyjet crew base. LBA meanwhile isn't a crew base and the GVA flight is operated by LPL crew.

Rosters are usually built around the amount of hours that a particular has for any given period. The 900 hours a year limit is a rolling year and within that are other regulations that the roster must abide by.

The vast majority of time, crew will be home each night. However, there are scheduled nightstops across the network. For example, LGW crew stay in Barcelona, Luton have nightstops in Dortmund and Madrid in lisbon. Crew also have periods where they work out of base which neccesitates nightstops. Where you are based depends on the propensity for this to happen. LGW crew do a lot of this as they are well connected to other bases.

Thanks easyflyer! Do (for instance) Liverpool crews ever fly any Manchester routes if there is a shortage of crew? I find it most odd that Manchester crews weren't picked for the LBA flights!

Thanks again :)

Bristol is actually one of easyJet's largest UK non-London bases, if not the largest, with eleven Airbuses based there in peak summer - ten during the rest of the year.

Nothing odd about it really. LPL have had an extra aircraft that EZY have, to be frank, wondered what to do with and so using it into LBA is a no brainer. MAN is an expanding base still in relative infancy and so operating into Leeds reduces that expansion ability somewhat. LPL used to operate the DSA flights which involved some positioning by taxi and nightstop but again they had the extra aircraft to operate these with. Additionally the LBA flights are operated as a "W Pattern" (LPL-GVA-LBA-GVA-LPL) with the same crew. The MAN-GVA is in fact also mainly operated by LPL on a similar basis.......a practice that will change in favour of a MAN based unit for the coming Winter.

LPL crews do operate "out of base" in MAN when required and vice versa for MAN crews.

Southend Routes should be on sale by Tuesday / Wednesday I am told..

watched ezy 8001 arrive at sen today,young people were holding flags of the destinations,belfast,amsterdam,alicante,malaga,palma,and a german one i could not see,plus the routes we already know,ibiza,barcelona,and faro,there may be a few more ,but we will have to see wot happens tomorrow, flew out as ezy 8002

That's funny, I thought this wasn't due out until tomorrow.....Air Transport News

A good range of useful destinations in there. Amsterdam will give KLM's range of Inter-continental service without the nause of travelling to the other London airports first.

EZY8001 arrived at SEN from LTN today:

A319-111-CFM56-5B5/3-TI - MSN3735 - G-EZDU - PERF FACTOR +1.4
EGGW/LTN | CO RTE LTNSEN1
STD 1200Z | ALTN EGSS
FLT NBR | EZY8001

EGMC/SEN
STA 1300Z
CRZ FL FL80

EZY8002 then departed for LTN again 2hrs later:

A319-111-CFM56-5B5/3-TI - MSN3735 - G-EZDU - PERF FACTOR +1.4

EGMC/SEN |CO RTE MCT
STD 1500Z | ALTN EGSS
FLT NBR | EZY8002

EGGW/LTN
STA 1600Z
CRZ FL140

maybe they will launch prague and berlin from belfast tomorrow aswell :) we really need it lol

Flights from SEN on sale now.

AMS, BFS each 2 daily
ALC, BCN, FAO, AGP each daily
PMI 4 weekly
IBZ 3 weekly

Anybody know if the press release for the LTN-SZG winter flights, in which they added at the bottom of the release that there was a flight a day to MUC was an error on Easyjets behalf or will actually happen?

I ask as there was speculation the STN-MUC flights might be moved but it appears on the early release of summer 2012 that they will still operate.

Easyjet has announced 10 new route from SEN. Now are one sale 8 new route, so probably 2 new route will be announced soon.

according to a national newspaer flights from sen are outselling stn on like for like destinations by 3 to 1,maybe easy could send a few more planes to sen

The remaining "new" routes i expect will be Glasgow and Edinburgh