REG - easyJet PLC - easyJet updates on the impact of disruption in Q3 <Origin Href="QuoteRef">EZJ.L</Origin>

easyJetAnnouncement

27/06/2016 07:06

RNS Number : 2794C
easyJet PLC
27 June 2016
27 June 2016
easyJet updates on the impact of disruption in the third quarter 
Theoperatingenvironment for all European airlines in May and June has been extremely challenging.To date,easyJethas experienced 1,061cancellations in the third quarter due to a significant number of disruption events, including the impact of continued strike action by French Air Traffic Controllers, runway and congestion issuesatGatwickairport,severe weatherand the knock-on cancellations across the easyJet network.As a result, in June alonethere have beenover 7001cancellations to date,with strikes and weather conditions accounting for most of theseand over 300 flights cancelled in the last seven days.In June 2015 there were487 cancellations, of which 420 related to the Fiumicino fire and thus were largely pre-planned.
These incidents,together withthe Egyptair tragedy, resulted insomedrop off in consumer demand leading to lower yield andhave impacted third quarter Profitbefore Tax by approximately 28million and have had a negative impact on third quarter revenue per seat ofc.1.6ppts. This means that revenue per seat at constant currency in the third quarter will fall by around8.6%, compared to thec.7%decreaseguided at the Half Year Results, as disrupted passengers were allocated seats that normally would have been sold close to departure for a higher yield.
Following the outcome of the EU Referendum, we alsoanticipatethatadditional economicand consumeruncertainty is likely this summer andas a consequence it is expected thatrevenue per seatat constant currencyin thesecond halfwillnow be downby at least amid-singledigit percentage compared to thesecond half of2015.In addition, recent movements in fuel prices and exchange rates are now expected to addaround25million of additional cost in the year to that guided at the Half Year Results.In response, easyJet is continuing its efforts to drive ex fuel cost savings.
easyJet'sunique network, digital leadership, cost advantage and financial strength will ensure it continues to deliver its strategy and continue to be a structural winner.
In line with our normal practice, easyJet will provide a further update on current trading at its Third Quarter results on 21 July 2016.
Enquiries should be directed to:
easyJet plc
Investor:

Stuart Morgan
+44 (0) 7989 665 484
Michael Barker
+44 (0) 7985 890 939
Media:

Paul Moore, Communications
Anna Knowles, Communications
+44 (0) 7860 794 444
+44 (0) 7985 873 313


1. At 25 June. All data relating to the third quarter is provisional. 

This information is provided by RNS
The company news service from the London Stock Exchange
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