StockMarketWire.com - EasyJet said it would expand its flight schedule in the fourth quarter following higher-than-expected demand after the budget airline reported third-quarter performance in line with expectations.

The company said it was 'encouraged' that levels of demand were higher than expected with a load factor of 84% in July, as destinations like Faro and Nice remained popular with customers.

'Our bookings for the remainder of the summer are performing better than expected and as a result we have decided to expand our schedule over the fourth quarter to fly about 40% of capacity,' EasyJet said.

Revenue for the third quarter ending 30 June 2020 was £7m.

After resuming flights on 15 June, easyJet carried 117,000 passengers with a total capacity of 132,000 seats in the remaining two weeks of the quarter.

The initial schedule comprised only 10 lines of flying and delivered a load factor of 88.9%.

Total headline costs for the quarter ending 30 June 2020 were £332.1m, which was 79% lower than Q3 2019.

Cash burn for Q3 of £774m was lower than the previously guided £1bn.

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