easyJet reported record high sales for summer 2017 and encouraging profit forecasts for the financial year.
The upbeat financial update came despite a £100 million currency loss since the Brexit vote.
easyJet carried 24.1 million passengers during the there months to September’s end, filling 95.6 per cent of seats.
Profits for the financial year to September 30 were estimated to be between £405 million and £410 million.
easyJet is cashing in on the Ryanair and Monarch chaos
This figure was at the upper end of estimates (which peaked at £420 million), representing a “good performance” for the airline.
easyJet chief executive Carolyn McCall said: “EasyJet has finished the year with continued positive momentum, delivering both a strong final quarter and a strong second half.
“Passenger numbers and load factor in the final quarter set new records and the second half profit was over £100m higher than summer 2016.”
easyJet’s update comes as Ryanair offers its pilots improved pay and working conditions in response to the cancelled flights crisis.
easyJet posted record passenger numbers over summer and expects high profits this year
As Ryanair fights to keep its staff happy, easyJet is cashing in
The Irish airline started to cancel flights en masse last month over an issue surrounding pilot holiday leave allocation.
Ryanair’s Michael O’Leary has written to pilots to offer them incentives to stay on board with the airline.
As Ryanair fights to keep its staff happy, to refund customers affected by cancellations, and to appease the requests of the Civil Aviation Authority, easyJet is cashing in.
Ms McCall said: “The current turmoil in the sector provides easyJet with opportunities to capitalise on its strong customer proposition and grow and strengthen our positions in Europe’s leading airports still further.”
easyJet is benefiting from industry turmoil including Ryanair’s cancelled flights crisis
Further fuelling industry turmoil was the collapse of Monarch Airlines on Monday.
The fall of this major competitor stands to strengthen easyJet’s position in the UK market.
easyJet has also expressed interest in purchasing assets from both Air Berlin and Alitalia, the other European airlines to go bust this year.
But in the immediate term, customers have been adversely affected by industry chaos.
Skyscanner revealed flight prices for October had soared by 23 per cent since the Ryanair cancellations and Monarch collapse.