easyJet raise profit forecast again; to pay one off dividend
22.09.11
easyJet has increased its profit guidance for the second time in two months and announced a one off special dividend. The budget airline said its performance had been ‘robust’ over the summer, helped by an increase in business passengers, with ‘particular strength on city routes’.
It now expects profits of £240m - £250m, up from a previously upgraded forecast of £200m - £230m made in July. It will pay a special dividend of 35p a share (a total of £150m), on top of an annual dividend of 9p a share.
Earlier this year, easyJet changed its strategy to focus on attracting more business passengers, and that has led to a 20% increase in business travellers on its flights. The airline said in a statement: ‘easyJet's commercial performance continues to be robust across the network, with particular strength on city routes used by business and short break leisure travellers.'
Revenue per seat rose 6 percent in the second half of the year - at the upper end of its expectations - and the airline has already sold around a third of the seats for the first quarter of its next financial year. However, it warned at current fuel and exchange rates its 2012 fuel bill would increase by about £220m compared to the current year.
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