May 2004 stats and update

easyJet PLC
07 June 2004

7 June 2004
easyJet passenger statistics for May 2004 and trading update



Below are the easyJet passenger statistics for May 2004. This information is
published on the fifth working day of every month.


Month ending;                                        May 2004        May 2003        Change
Passengers1                                          2,092,709       1,759,659       19%
Load Factor2                                         81%             83%              N/A
Rolling 12 months ending;                            May 2004        May 2003        Change
Passengers1                                          22,388,318      18,146,542      23%
Load Factor2                                         84%             84%             N/A
Revenue (unaudited)3                                 £1,015m         £816m           24%



easyJet is amending its monthly reporting format to include a rolling 12-month
revenue number. Over the coming months, this will provide shareholders with a
body of data to give insight into underlying business trends and greater
year-round visibility of the performance of easyJet's seasonal business. Given
recent events, we also take the opportunity to provide more detailed guidance on
this occasion.



We indicated in our interim announcement that we were seeing unprofitable and
unrealistic pricing by airlines across all sectors of the European industry. We
expect this to continue during the rest of the year.

While demand for low cost travel remains strong, the forward pricing environment
is exceptionally competitive. We will vigorously defend our market position and,
unlike some airlines, have the financial strength to do so - even after having
already arranged financing facilities for 82 incoming aircraft over the coming
3-4 years. We will continue to extend our network reach, growing capacity by
some 20% this financial year, maintaining our leading market position and
optimising the use of our scale. Capacity deployment for financial year 2005 is
currently under review.



Fuel prices continue to be a concern.  For the second half of this financial
year, easyJet has approximately 55% of its fuel capped at US$301/tonne.  For the
first two months of the second half, the average fuel price was $360/tonne
(before hedging).  If this price continues, our results would be adversely
affected by approximately £4m at current exchange rates.



Management continues to implement cost-reduction initiatives. Last week we
announced another tender to select low-cost airports for the next stage of our
development. Also last week we made history when every single passenger on a
flight checked-in themselves and their baggage using self-check-in kiosks. This
will result in more efficient operations (and lower costs) at airports as we
roll out this new process across the network. The 16 Airbus A319s now in the
fleet continue to reduce our unit costs (7 more to be delivered this financial
year) and have helped us to attain excellent levels of punctuality and
operational stability in the last few months.



Assuming a slight easing in global oil prices and that Sterling remains
reasonably strong against the US Dollar, we would expect a stable geopolitical
environment to allow us to generate pre tax profits in the current year that at
least exceed the £52 million achieved last year.



Ray Webster, Chief Executive of easyJet said:



'At our Interim results we indicated the increasingly competitive nature of the
European airline market for this year. This continues and, as Europe's number
one low-cost airline, we will use our market and financial strength to protect
our leading position. While this may have a bearing on the growth in our profits
this year, it will ensure sound medium and long-term growth for easyJet, in a
market place where there will be fewer carriers.'



1.       Represents the number of earned seats flown. Earned seats include seats
that are flown whether or not the passenger turns up because easyJet is a
no-refund airline, and once a flight has departed a no-show customer is
generally not entitled to change flights or seek a refund. Earned seats also
include seats provided for promotional purposes and to staff for business
travel.

2.       Represents the number of passengers as a proportion of the number of
seats available for passengers. No weighting of the load factor is carried out
to recognise the effect of varying flight (or 'stage') lengths.

3.       Represents statutory revenue (unaudited)






                      This information is provided by RNS
            The company news service from the London Stock Exchange