Easyjet expecting first half loss
Easyjet is expecting a half-year loss of £45 million as fuel costs continue to rocket.
Chairman Sir Colin Chandler said in a trading statement that fuel will rise 50%, costing the airline as additional £55 million in the first six months of the year.
The anticipated loss will be double the £22 million half-year deficit in 2004.
Sir Colin said the timing of Easter will also hurt results although cost reductions and increasing ancillary revenues will lessen the blow.
Despite the losses, he said its full-year forecasts remain unchanged. The carrier expects capacity to rise 15% and profits to increase by a mid to high single-digit percentage.
First quarter (October to December) revenue per seat rose 1.8% compared to the same period last year, helped by double digit growth in non-ticket sales.
Report by Steve Jones
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