easyJet, an European airline carrier, anticipates its first half financial performance for the year to go beyond the guidance set in its first quarter of the year.
The group anticipates its pre-tax loss for the six months ending 31 March, 2012 in between the range of £110 million and £120 million, compared to previous forecast of a pre-tax loss of £140 million to £160 million and a first half loss in 2011 of £153 million.
While commenting on the pre-close trading statement, CEO Carolyn McCall said: "Although the economic environment remains weak, easyJet's strategy of affordable fares and our focus on making it easy for our customers ensures that easyJet is well positioned to deliver good results for shareholders. We continue to expect the environment for airlines to remain difficult. We will continue to deliver for our customers, focus on operational excellence, manage our costs tightly and allocate our capacity to the markets that will deliver the best financial return."
For the first half of the year, total cost per seat excluding fuel is now estimated to increase around 1.5 per cent at constant currency, compared to the previous period and full year total cost per seat excluding fuel is likely to rise by around 2 per cent, assuming no important disruption starting from events such as airspace congestion during the Olympics.
easyJet's expectations for the second half financial performance remain unchanged despite the stronger-than-expected first half performance. Shares of the company rose 7.65 per cent or 35.10 pence at 8:50 BST.