Easyjet pleased with GB progress

Low-cost airline easyJet today said its £103m (€134.7m) acquisition GB Airways traded well during its transition from previous owner British Airways.

The group posted a 22% rise in passenger numbers to 3.24 million in February, with GB Airways contributing a 4.4% 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% – 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% to 84.3%, largely as a result of the impact of an air traffic control strike in France last month. Passenger numbers were ahead 14.8% to 3.04 million.

Panmure Gordon Gert Zonneveld maintained his buy recommendation on the stock today. “Overall the numbers look good,” he said.

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