3rd may 2009

Easyjet reports Losses

Easyjet said it remains confident of a full-year profit despite its half-yearly losses more than doubling.

The airline reported a pre-tax loss of £129.8m for the six months to March 31, compared with a £48.4 million loss the year before.

Passenger numbers rose 2.9% to 19.4 million in the period, despite overall capacity in the European short-haul market shrinking by 5.6%,

Easyjet blamed the increased losses on higher fuel costs and the fact that Easter fell later this year.

But chief executive Andy Harrison insisted: “While we remain cautious about the consumer economy, at current fuel prices and exchange rates, easyJet expects to be profitable for the full year.
“EasyJet is financially strong, with cash and money market deposits as at 31 March 2009 exceeding £1 billion, and has good and well-established market positions and the Board remains confident in easyJet’s future prospects.”

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