Share in low cost carrier easyJet shares soared yesterday after the airline reported a surprise 23% growth in revenue to £935m in the third quarter and predicted annual profits ahead of forecasts. easyJet’s predicted pre-tax profit would be between £200m and £230m –ahead of analysts’ expectations of £180m.
Carolyn McCall, easyJet’s chief executive, credited the results on her strategy to focus on flights from major European cities to attract business customers. She also stated that 75% of summer seats were already booked but warned the airline was still under pressure from high fuel prices and a rocky economy.
EasyJet shares rose 55.3p, or 18% to 368p.