EasyJet reports a 56% rise in profits – 15 Nov 2006

EasyJet reported a 56% rise in profits to a record £129 million in the year to September, despite soaring fuel costs and the August security alert.

The carrier marked the news by announcing an order for 52 Airbus A319 jets, taking the number of aircraft on firm order by 2010 to 104 – close to the size of its existing fleet of 122. It has options on another 123 aircraft.

Chief executive Andy Harrison countered suggestions such expansion threatens the environment by saying: “Our Airbus order supports both our growth and our environmental credentials. Our modern fleet and high utilisation mean we emit nearly 30% fewer emissions than traditional airlines flying similar routes.”

He called for airlines to be brought into the European Emissions Trading Scheme as soon as possible.

Passenger numbers rose 11.5% to 33 million, revenue per passenger rose almost 6% and ancillary revenue increased by 34% per seat.

At the same time overall costs fell by 1.5%, despite a 33% rise in the cost of fuel.

Analysts said the disruption following the security alert appeared to have had little impact. EasyJet was forced to cancel most of its schedule from London airports on August 10.