EasyJet PLC’s (LON:EZJ) profits this year will be at the high end of its forecasts as passengers numbers and seats filled hit record levels over the summer.
The airline carried 24.1mln passenger in the three months to September, while the load factor climbed to a new high of 95.6%.
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As a result, profits will come in at the higher end of its guidance of £405-410mln range, the airline said.
EasyJet’s strong performance comes just a week after rival Monarch collapsed and Carolyn McCall, chief executive, said despite the strong momentum the outlook was challenging but offered opportunities.
"The current turmoil in the sector provides the easyJet with opportunities to capitalise on its strong customer proposition and grow and strengthen our positions in Europe's leading airports still further.
Competition on pricing cut revenue per seat by 1.4% over the second half and by 3.7% in the final quarter while easyJet also took a £100mln currency hit.
Monarch’s demise is being tipped to give some respite on pricing, but like other rivals easyJet is continuing to boost capacity which analysts say is a reason for the fierce competition.
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The airline increased its fleet by 8% in the three months to September and has planned for a further 6% rise in the current year.
Fuel costs in 2017 will between £230-235mln lower than in 2016, with a further boost of between £125-£145mln in 2018 due to hedging.
McCall, who leaves to become chief executive at ITV at the end of the year, added: "easyJet has finished the year with continued positive momentum delivering both a strong final quarter and a strong second half. Passenger numbers and load factor in the final quarter set new records and the second half profit was over £100m higher than summer 2016.