22nd Mar 2005 07:00
easyJet PLC22 March 2005 For immediate release 22 March 2005 UPDATE ON TRADING AHEAD OF CLOSED PERIOD easyJet, the leading European low cost airline, is providing the followingroutine statement on trading prior to entering its close period ahead of its2005 interim results, which will be announced on 24 May 2005. Ray Webster, Chief Executive of easyJet said: "Trading conditions have remained stable in the first half with total revenueper passenger expected to increase by between 1% and 2% over the same periodlast year helped by Easter falling into the period. We anticipate growth of 24%in passenger numbers when compared to H1 2004. We now fly to a total of 60airports, bringing one third of the population of the European Union to within60 minutes travel time of an easyJet airport - which is all the more reason tolook forward to the arrival of our 100th aircraft in mid April." The price of fuel remains high and volatile. In spite of this, operating marginsfor the period are expected to be broadly in line with last year. Total grosscash on the balance sheet at the half-year end is expected to exceed £600m. easyJet remains committed to its low-cost business model which makes the travelexperience as easy as possible. It flies to primary airports close to Europe'smajor population centres; is introducing self-check-in kiosks for all passengersat certain airports and has the world's most generous hand baggage policy. As aresult, it has a natural appeal to cost-conscious business passengers and hasrecently announced an agreement with Business Travel International which willstrengthen its position in this important market. Competition from smaller low-cost carriers and from the legacy airlines isunlikely to diminish. easyJet is meeting these challenges by constant attentionto cost efficiencies, some of which are only possible because of the airline'sscale and leverage with suppliers, and continued emphasis on the airline'srevenue mix. END For further details please contact: easyJet plc Press:Toby Nicol, Corporate Communications +44 (0) 1582 525 339 Analysts:Andrew Barker, Investor Relations +44 (0) 1582 525 274Cliff Hide, Investor Relations This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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