EasyJet’s liquidity totals £1.1bn in Q3

Source: Flightglobal.com
This story is sourced from Flightglobal.com

EasyJet recorded £1.1 billion ($1.7 billion) cash and money market deposits at 30 June 2012, down from £1.4 billion in last year's corresponding period.

During the quarter, the UK low-cost carrier took delivery of 12 A320 family aircraft and returned five A319 aircraft to lessors. As at 30 June 2012 the fleet was comprised of 211 aircraft of which 50 were A320s and 161 were A319s.

At 31 March 2012, easyJet had £1.2 billion of cash and money market deposits. Its fleet totalled 204 aircraft.

EasyJet's net debt was £55 million at the end of the third quarter.

The carrier says its strong balance sheet and low gearing remains a competitive advantage providing access to funding, lower borrowing costs and uncollateralised hedging.