Partly Cloudy

Partly Cloudy

max temp: 20°C

min temp: 14°C

ESTD 1874 Search

The pigs are coming. Find out more about

Pigs Gone Wild

here.

Stansted: ‘Solid’ first half to the year for easyJet amid growth in business passengers

11:32 13 May 2014

easyJet chief executive Carolyn McCall.

easyJet chief executive Carolyn McCall.

Archant

Budget airline easyJet today posted a smaller-than-expected winter loss after it benefited from flying a record number of business passengers.

The Luton-based carrier, which is also a major operator at Stansted, attracted a total of 27.6million passengers in the six months to the end of March, an increase of 4%, as revenues rose by 6.3% to £1.7billion and losses narrowed to £53m. This was not only better than last year’s £61m first half deficit but also ahead of upgraded guidance given to the City by easyJet in April.

The company, which has courted more lucrative business customers through seat allocation and priority boarding, said it flew a record 12m business passengers in the year to March, an increase of 44% compared with the total of 8.4m in 2010 when it first began to target business passengers.

Chief executive Carolyn McCall said: “Recession and austerity has also encouraged business passengers across Europe to sample easyJet and when they do so they like the experience.”

The company said that over the last six months it had managed to cut costs, boost margins and increase capacity. Total revenue per seat rose 1.5% to £54.80, capacity grew by 3.6% to 31.1m seats and its load factor, a industry measure of how full its planes are, increased 0.4% to 89%.

It added that it expects to have a busy summer, when it carries more holidaymakers and traditionally makes all it profits.

In the six months to September 30, easyJet expects its rivals to boost capacity by 2.4m seats or 2.9%, while it plans to increase capacity by 2.6m seats or 6.7%.

Ms McCall added: “easyJet has delivered a solid first half performance despite the less benign capacity environment. The results reflect our on-going progress against our strategic priorities, and demonstrate the structural advantage easyJet has against both legacy and low cost competition in the European short haul market.

“By continuing to deliver our strategy of offering customers lower fares to great destinations with friendly service while focusing upon costs, we can continue to deliver sustainable growth and returns for our shareholders.

“There continue to be a number of attractive opportunities for easyJet to grow profitably in Europe and we look forward to making further progress in the second half of the year.”

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

John Dugmore

Campaigners from the business community on both sides of the EU membership debate were agreed yesterday on the need for the Government to make stability its top priority in the wake of the vote for Brexit.

Keith Senior is pictured at Jacobs Allen in Bury St Edmunds

Concerns have been raised about how Thursday’s decision to quit the EU will affect mortgage rates and foreign travel.

Barry Chevalier Guild of Aspall Cyder

One of Suffolk’s oldest and most successful family businesses has been given permission to expand its operations – despite community concerns it has already outgrown the hamlet from which it takes its name.

SIMS - Max Shelley and Sam Parnell

Ask the experts and become better at social media!

Building work at Beardmore Park, Martlesham Heath.

Major plans for a new £8million retail estate in Martlesham Heath, including DIY store Wickes, and scores of new jobs have been confirmed.

HOT JOBS

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

Great British Life

Great British Life
MyDate24 MyPhotos24