EasyJet Expects Promising First Half Revenues

EasyJet has reported that it expects first half revenues to be better that initially expected, partly because of a rise in the number of business travellers. EasyJet shares have suffered over the last year, falling by a third. However, yesterday’s statement caused shares to rise by 11%, valuing easyJet at approximately £1.2 billion. EasyJet Chief Executive Andy Harrison told Reuters:

"We see a huge amount of economic uncertainty ahead -- we'll see how the business trades over the summer -- but we are currently performing better than expected,"

"There has been a clear flight to value and we fly to primary airports, so there has been a significant increase in business passengers."

Harrison added that although bookings are currently in line with last year, it was too early to comment on the end result during the current economic climate. However he was confident that the airline would be profitable in the year to end September.