Investing.com — Here is a summary of regulatory news releases from the London Stock Exchange on Tuesday, 19th November. Please refresh for updates

  • Full-year profit before tax at EasyJet (LON:) will be between 420 and 430 million pounds ($554-$557 million), the airline said after what it called a “solid performance in the fourth quarter with robust customer demand”, despite storms across Europe and operational issues at Gatwick Airport.
  • The effects of the economic slowdown, which has exposed the sector’s excessive investment in growing capacity in recent years, were clearly visible in the airline’s preliminary update. The airline’s load factor fell 1.4 points from the 2018 fiscal year to 91.5, as an 8.6% rise in passengers to 96 million failed to keep pace with a 10.3% rise in available seat-kilometers.
  • The airline also reported a 12% rise in unit costs for the year due to higher fuel costs (1.42 billion pounds in total, including emissions trading system costs), as well as foreign exchange headwinds of 14 million pounds.
  • EasyJet is cutting capacity growth to only 2% in the first quarter of the new fiscal year. Bookings are in line with the same time last year, it added.
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    2019-11-18