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EasyJet Q1 projection as Stelios plans to float easyHotel

EasyJet reports on first quarter trading on Thursday as it faces the challenge of building on the previous financial year, when profits rose 51%.

Efforts to attract more business passengers saw the budget carrier fly more than 60 million passengers for the first time, helping earnings soar above £478 million in the year to September 30.

But the airline signalled a tougher start to the new year as it came up against comparisons with a year earlier when pent-up demand after the Olympics drove a leap in business.

Meanwhile, easyJet founder Sir Stelios Haji-Ioannou is reported to be drawing up plans to float his budget hotel chain easyHotel.

The company has opened talks with potential City advisors following the appointment of former City leisure analyst Simon Chapman as chief executive last year, according to the Sunday Times.

The chain of more than 20 budget hotels plans to open 50 properties across Africa.

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