EasyJet Sees Its New Acquisition Carry the Load

Low-cost airline easyJet yesterday said its Pounds 103m acquisition GB Airways traded well during its transition from previous owner British Airways.

The group posted a 22 per cent rise in passenger numbers to 3.24 million in February, with GB Airways contributing a 4.4 per cent improvement to 201,000.

EasyJet said it was pleased that GB’s load factor, a key measure of how full the carrier’s planes were, remained strong during the month – up 7.9 percentage points at 90.5 per cent – despite the airline’s winding down as a British Airways franchise.

GB is primarily a Gatwick-based operator, covering destinations across southern Europe and northern Africa with a fleet of 15 Airbus aircraft.

Despite the takeover at the end of last year, GB Airways is operating under the BA brand until the end of this month, after which flights will operate under the easyJet logo.

The load factor for easyJet planes rose 1.4 per cent to 84.3 per cent, largely as a result of the impact of an air traffic control strike in France last month. Passenger numbers were ahead 14.8 per cent to 3.04 million. Panmure Gordon analyst Gert Zonneveld maintained his buy recommendation on the stock. “Overall the numbers look good,” he said.

EasyJet recently predicted a 20 per cent profits hike this year, despite growing headwinds from tougher trading conditions.

Meanwhile, Aer Lingus said total passenger numbers grew by 15 per cent in February on the same period in 2007. This was based on a 15.6 per cent rise in passenger numbers on short-haul flights and a 10 per cent increase on long haul.

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