EasyJet Raises Guidance

EasyJet Plc

announced that the increasing traffic between the UK and Europe will help the company to beat its earlier earnings guidance. EasyJet reported that its pretax profit for the year will be “slightly ahead” of the high end of its earlier guidance range of 100 million pounds ($159 million) to £150 million. The company is also projecting a rise of at least 6% in its total revenue per seat. The company has also reported an increase of 8% in the number of passengers carried in September. It's load factor also rose to 89.3% from 88.1%. The company said, “This reflects good performances across the network, but particularly on U.K. to European beach and city routes.” EasyJet's shares closed at $23.85 yesterday, while its shares are up about 10% in UK. Read more