EasyJet Jumps 4.2% After Upbeat Earnings Report

EasyJet PLC rallied 4.2% in Tuesday's trade after the budget airline lifted its revenue guidance and reported first-quarter sales growth that beat expectations. For the quarter ended Dec. 31, 2014, the company said revenue climbed 3.8%, while the number of travelling passengers rose 4.1%. EasyJet also said it now expects revenue-per-seat to improve 2% in the first six months of the financial year, better than the previous guidance of a flat to "very slightly up" revenue increase. Additionally, the airliner noted that it expects its first-half loss to narrow compared with the same period last year. Touching the subject of lower oil prices, EasyJet said it sees its first-half fuel bill to fall by between �30 million and �35 million. "In our opinion, investors should be encouraged by a positive outlook statement in which management points out that it sold record numbers of seats to business travellers in the first quarter and that EasyJet is well positioned to continue to deliver strong returns and growth to shareholders," said analysts from Numis in a note.