EasyJet first quarter revenue jumps 10.5%

British budget airline EasyJet announced on Thursday that its first quarter revenues jumped 10.5 per cent to settle at 607.5 million pounds, providing fresh evidence that global recession has faded away.

Revenue per seat jumped 4.2 per cent to settle at 47.50 pounds during the quarter ended December 31.

The number of passengers during the concerned three months soared to 11 million, representing an increase of 9.1 per cent from year ago period. The load factor showed improvement of 1.4 per cent to 85.5 per cent.

Nevertheless, EasyJet CEO Andy Harrison, who is going to leave the carrier at the end of June, remains cautious on the outlook for future trading.

Speaking on the topic, Andy Harrison said, “Economic conditions remain challenging and we continue to expect a tough trading environment.”

It should be noted here that airlines suffered huge losses in wake of recent recession. The International Air Transport Association has predicted that the sector would suffer a loss of $5.6 billion in
2010.

Shares of EasyJet closed at 365p-a-share on Wednesday, valuing the carrier at about 1.6 billion pounds.