Ryanair Lifts FY Profit View After Nov. Traffic Jumps; EasyJet Load Factor Up

(RTTNews) - Low-cost airlines Ryanair Holdings Plc. (RYA.L, RYAAY) and easyJet Plc (ESYJY.PK, EZJ.L) Thursday reported increases in passengers and load factor for the month of November. In addition, citing the better than expected performance in the first month of its substantially expanded winter schedule, Ryanair lifted its full year forecast for profit and traffic. Both stocks climbed significantly in early trade.

Irish low-cost airline Ryanair said its traffic in November climbed 22 percent to 6.35 million customers, while load factor rose by 7 percentage points to 88 percent from 81 percent in 2013.

Ryanair attributed this stronger than expected initial winter performance to the continuing success of its "Always Getting Better" customer program, stronger forward booking strategy and the airline's substantial fare and unit cost advantage over all other European airlines.

Considering the better than expected performance in the first month of its substantially expanded winter schedule, Ryanair revised its full year traffic guidance up from 89 million to just over 90 million customers.

The airline also raised its full year profit after-tax forecast from its previous range of 750 million euros to 770 million euros, to a new range of 810 million euros to 830 million euros.

Ryanair noted that the final full year profit would still be heavily reliant on close in bookings and yields in the fourth quarter over which it presently has very little visibility.

Meanwhile, UK-based easyJet said its passengers, representing the number of earned seats flown, for the month grew 3.1 percent to 4.39 million from 4.26 million in the same month last year.

Load factor advanced 0.5 percentage points to 89.5 percent from 89 percent.

For the 12 months ending November, passengers rose 6.6 percent and load factor advanced 1.5 percentage points.

RYA.L climbed 9.7 percent in early trade to 9.56 pence.

EZJ.L jumped 4.7 percent to 1,745.60 pence.