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(EZJ) Easyjet General Share Chat

Discussion in 'General Share Chat (EJZ)' started by Microem1, Nov 6, 2015.

  1. ShortTracker

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  10. Mongoose82

    Mongoose82 A Legendary Member

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    "Short-term pains hiding network value growth

    easyJet released a complex set of Q3 results due to the multiple external factors which have accumulated since the beginning of the year to make the life of airlines particularly difficult in recent times. Passengers transported were up 5.8% to 20.2m in Q3 16 vs. 19.1m reflecting the 5.5% capacity increase from 20.8m seats flown to 21.9m. In addition, the load factor continued to improve, climbing to 92% from 91.7%. Although the load factor was strong, group revenues fell some 2.6% to £1,196m, from £1,228m the previous year, reflecting the 7.7% fall in revenues per seat (-8.3% at constant currency)."

    AlphaValue note out this morning:

    Https://www.research-tree.com/compa...-pains-hiding-network-value-growth-21-07-2016
     
  11. Mongoose82

    Mongoose82 A Legendary Member

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    "As anticipated, Q3 performance made for unexciting reading. In addition to the already familiar disruptive events (detailed above), more recent additional factors, including the coup attempt in Turkey and tragic incident in Nice (France) further undermined traveller confidence. Sterling's devaluation following Brexit, may also squeeze prospective UK traveller budgets and also caused higher US$- denominated jet fuel costs. In the interview with BBC, the Group CEO, Carolyn McCall, noted Sterling devaluation has resulted in a £40m hit to profit in June alone. For the whole year, the Group estimated there will be c.-£80m adverse impact compared to the FY2015, offsetting gains (+£160m-£170m) from lower year-on- year fuel prices (bearing in mind that for year end- 2016 this is forward hedged by 88% while 2017 is 79%). These factors prompted low-cost airlines to compete more intensively on prices, which consequently decreased total revenue per seat by - 8.3% in the quarter just reported (on a constant currency basis). The Group stated on 27th June that disruption events have impacted Q3 pre-tax profit by c.-£28m. Looking ahead, easyJet has secured 65% of Q4 expected bookings so far at average revenue per seat -7.5% lower year-on-year on a constant currency basis. Considering falling consumer confidence and the fact that summer period tends to contain higher levels of discretionary leisure travel, we see limited scope of positive surprises during the remainder of the FY2016. Long-term the outlook for easyJet is also somewhat clouded post Brexit, considering additional tariff/delays/restriction that could potentially be imposed give a 'worst case' scenario."

    Beaufort update: Https://www.research-tree.com/Company/GB00B7KR2P84
     
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  17. MedicInvestor

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    Passenger numbers to be released on Monday, should see and increase in the numbers.
     
    Barney likes this.

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