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Losses increase at Easyjet
No frills carrier Easyjet has reported an increase in half-year pre-tax losses to £31 million despite a big increase in passenger numbers.
The loss was £4 million greater than 2004’s interim performance although passenger numbers rose 25% to 13.5 million and revenues increased 26% to £553 million.
Load factors rose marginally to 83.8% with revenue per passenger up 1.1%.
Chief executive Ray Webster stressed the performance was in line with expectations but warned fuel prices and exchange rates would, as expected, lead to a reduced full year profit.
“Much has been achieved in the last six months – growing passengers by a quarter, launching 40 new routes and inaugurating service to 14 new airports,” he said. “We have made steady progress on costs and, so far, mitigated the impact of a higher fuel price. But there is more to do as we seek balanced growth, extending our reach in Europe while protecting our margins.”
He insisted the airline remained financially strong and was well placed to capitalise on opportunities in the European airline market.
Report by Steve Jones
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