Third-quarter results from easyJet PLC (easyJet PLC (LSE:EZJ)) reassured investors after the warning from rival Ryanair earlier in the week, with the orange-branded budget airline's profits rising and summer bookings up year on year.
Johan Lundgren said, "We remain on track to deliver another record-breaking summer, taking us a step closer to our medium-term targets".
Headline profit before tax rose 16% to £236 million for the three months to end-June, on revenue up 11% to £2.6 billion.
Passenger numbers were up 8% and ancillary revenue grew 11%, while passenger revenue per seat was down 1%.
Costs were up 1% per seat, excluding fuel, with an increase in average flight length meaning that cost per available seat kilometre was flat, ex-fuel. Fuel costs were up 7%.
Sales from its startup holiday arm swelled 42% and profit before tax 49% to £73 million.
Net cash stood at £456 million at the end of June, up around £300 million over the quarter, while all 15 of 16 aircraft expected were delivered in the period, with the final one received in July.
Looking forward, bookings for the final quarter of its financial year saw 69% of summer capacity sold, from 68% a year ago, with 7% more capacity on sale than last summer, with total revenue per passenger yield "broadly flat" year on year.
Capacity for the first quarter of the 2025 year is up around 5% with 20% of the program currently sold, up from 18% a year ago.