Easyjet losses double
Easyjet said it remains confident of a full-year profit despite its half-yearly losses more than doubling.
The airline reported a pre-tax loss of £129.8m for the six months to March 31, compared with a £48.4 million loss the year before.
Passenger numbers rose 2.9% to 19.4 million in the period, despite overall capacity in the European short-haul market shrinking by 5.6%,
Easyjet blamed the increased losses on higher fuel costs and the fact that Easter fell later this year.
But chief executive Andy Harrison insisted: “While we remain cautious about the consumer economy, at current fuel prices and exchange rates, easyJet expects to be profitable for the full year.
“EasyJet is financially strong, with cash and money market deposits as at 31 March 2009 exceeding £1 billion, and has good and well-established market positions and the Board remains confident in easyJet’s future prospects.â€
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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