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EasyJet enjoys a strong run
With the vast improvement in weather thought Europe, easyJet has reported a strong rise in second quarter sales and indicated that profits are set to “beat expectations”. The news saw the no-frills airline’s share price jump by 6%.
Sales rose 10.5% to £1.142bn for the three months to 30 June and 73% of seats for the second half of the airline’s financial year have already been booked. As a result, profits are forecast to be between £450m and £480m for the year to 30 September 2013, up from £317m in 2011/12.
Analysts agree that the airline is enjoying a strong run and a 174% rise in share price in the last year has sparked rumours of a promotion to the FTSE 100 index.
Earlier this month, shareholders approved the airline’s deal to purchase 135 Airbus A320 aircraft as it continues to drive forward its network expansion plans, despite objections from founder Sir Stelios Haji-Ioannou who still owns almost 37% of the airline.