News

EasyJet reports £202 million profit

EasyJet has reported a £202 million profit for the year to the end of September, up 48% on 2006 when stripped of one-off additions.

Passenger numbers rose 13% to 37 million, making EasyJet the fourth-largest carrier in Europe with a fleet of 137 aircraft.

Turnover increased 11% to almost £1.8billion and income from ancillary sales of drinks and snacks and baggage charges rose to 47p per passenger, providing almost 10% of total revenue.

However, the airline’s annual figures reveal how tight the margins in aviation have become, with the average cost per seat excluding fuel hitting £26.55 – almost equal to the fares on some routes.

In a statement the carrier warned: “The fuel environment remains challenging.” But chief executive Andy Harrison said: “Revenue, profit and return on equity have all shown strong improvements despite challenging conditions.”

EasyJet has substantially developed its business model in the past year, moving into package holiday sales through easyJetHolidays.com in June and signing deals with Amadeus and Galileo to appear on the global distribution systems of business travel agents.

It recently announced the purchase of GB Airways, which should be completed by next February.

Share article

View Comments

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.