EasyJet Losses Increase In Half Yearly Results
Low cost airline easyJet remains positive despite seeing its losses more than double in its half-yearly results.
Figures released today reveal a pre-tax loss of £129.8 million for the six months leading up to March 31st, compared to a £48.4 million loss one year ago. Despite this, the cheap flights carrier still expects to turn a profit by the end of the financial year with Chief Executive Andy Harrison citing current fuel prices and exchange rates as favourable factors.
The loss has been put down to an increase in fuel costs, as well as the fact that Easter fell later in the year compared to 2008. A fuel cost increase of £3.87 per seat has cost easyJet £90.6 million over the last six months.
Harrison commented that easyJet was “financially strong”, before confirming that the board remained “confident in easyJet’s future prospects". In the same six month period, easyJet have also reported a 2.9% increase in passenger numbers to reach 19.4 million.
In other news, easyJet have lost their chief financial officer Jeff Carr, who has resigned to take a similar role at FirstGroup.
