LONDON (Reuters) - British low-cost airline easyJet reported a forecast-beating narrower seasonal first-half loss as it held down costs and said it was on track to continue to deliver sustainable growth and returns for shareholders.
The group posted a pretax loss of 53 million pounds ($89 million) in the six months to March 31, a 13 percent improvement on the same period last year, and ahead of its own guidance which was for a loss of between 55 million pounds and 65 million pounds.
The group, which traditionally runs at a loss during its winter first half when fewer customers fly, posted a stronger performance this year than last, despite the fact that unlike last year, this six month period did not include the benefit of the Easter holiday which fell in April in 2014.
easyJet in March upgraded its first-half results forecast by 25 percent, citing tight cost control, the popularity of its allocated seating programme and benign winter weather which meant fewer disruptions.
(Reporting by Sarah Young, Editing by Paul Sandle)