EasyJet posts half-year losses
Low-cost airline easyJet has posted half-year losses of £129.8 million following a £90 million increase in fuel costs.
Despite the doubling in the deficit for its weaker trading period, Luton-based easyJet said it remained on course to make a profit in the full year.
It drew encouragement from growth in revenues per seat of 14.9 per cent, with passenger numbers up by 2.9 per cent to 19.4 million in the period. fuel costs, which increased by £3.87 per seat in the half year, were expected to unwind as fuel hedging policies adjust to lower market prices.
The movement of Easter into the second half of the financial year also depressed profit margins. Chief executive Andy Harrison said: “At current fuel prices and exchange rates, easyJet expects to be profitable for the full year.”