EasyJet eyes strong bookings

LOW fares airline easyJet Plc yesterday reported its average passenger fare in the third quarter slipped 2.8%, but said bookings for the crucial summer season showed strong growth.

Shares in easyJet were up 0.3% at 239 pence at one stage yesterday, off an earlier high of 244-1/2p. The stock has trailed the FTSE MidCap Index by 17% since the end of its first half as investors fretted about a price war with budget and full-service European rivals cutting into its profits.

EasyJet's average fare for the three months to the end of June was £46.08, an improvement on the 10.7% year-on-year drop to £37.45 in the first half.