StockMarketWire.com - Budget airline Easyjet forecast a jump in capacity in the fourth quarter after reporting narrower third-quarter losses as revenue was boosted by a rise in passenger number amid easing pandemic-related travel restrictions.

In Q4 easyJet expects to fly up to 60% of Q4 2019 capacity, compared with capacity of 17% in Q3.

For the quarter ending 30 June 2021, pre-tax headline losses decreased by 8.2% to £318.3 million year-on-year as revenue increased to £212.9 million from £7.2 million.

Passenger numbers for the quarter increased to 3.0 million, in line with an increase in capacity to 4.5 million seats, representing 17% of Q3 2019 capacity levels, slightly ahead of its expectations.

Passenger revenue increased to £151.9 million from £3.6 million, and ancillary revenue increased to £61.0 million from £3.6 million.

'Customers are currently booking much closer to departure due to market conditions with 49% of our Q4 schedule booked, which compares to 65% in 2019,' the company said.

'We remains confident about demand for travel this summer and into autumn, due to the bookings surges experienced following selective easing of travel restrictions, such as the 400% increase in week-on-week flight bookings seen following the waiving of quarantine for fully vaccinated passengers returning from Amber list destinations,' it added.



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