EasyJet, the largest UK low cost airline, on Tuesday reported a sharp increase in full-year profits and forecast a further significant rise in profits in the current year to next September despite record oil prices.
Charges to airlines to use London’s Heathrow and Gatwick airports are set to rise sharply during the next five years according to proposals published on Tuesday by the Civil Aviation Authority, the airports economic regulator.
BAA’s hopes of refinancing its £10bn debt burden and redeveloping Heathrow was dealt a blow this morning when the Civil Aviation Authority confirmed plans to cut its permitted return on investment over the next five years.
EasyJet, the budget airline, has soared to record profits, it announced this morning.
Easyjet threw down the gauntlet to arch-rival Ryanair today, declaring that its profits will grow 20% over the next year on top of the 50% increase in earnings it has posted for the last 12 months.
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