Easyjet annual results show a loss of £153 million which is over double the previous year £74 million pounds loss. They claim higher fuel bills cost an extra £43 million and the passenger taxation a further 21 million.
This is despite achieving a better load factor and increasing passenger numbers by 12% to 23.9 million. Interestingly 59% of customers come from outside the UK where the biggest increase was seen.
Total revenues were down 2% and at some point these extra charges will have to be passed onto the customer and it will be interesting to see the affect on sales.
Tui recorded a first half loss of £307 million which was slightly down on last year but once agian the UK side of the operation was the biggest culprit with a loss of £173 million up from £161 million.
These results clearly demonstrate that the UK economy is still struggling and the recovery may not come quick enough for smaller companies.