EasyJet records 16% rise in profits

Budget airline easyJet has notched up a 16% increase in third-quarter profits and said it remains on track for a record summer performance.

The carrier reported headline pre-tax profits of £236 million for the three months to June 30, up from £203 million a year ago.

It carried 8% more passengers in the quarter at 25.3 million and said trading was also boosted by strong demand for easyJet Holidays, with the division seeing pre-tax profits jump to £73 million from £49 million a year earlier.

EasyJet now expects the holidays arm to deliver annual pre-tax profits of more than £180 million, up more than 48% year on year.

Outgoing chief executive Johan Lundgren said: “Our strong performance in the quarter has been driven by more customers choosing easyJet for our unrivalled network of destinations and value for money.

“This result was achieved despite Easter falling into March this year, demonstrating the continued importance of travel and this means we remain on track to deliver another record-breaking summer, taking us a step closer to our medium-term targets.”