Easyjet hails ‘robust’ performance despite external challenges
10 May 2016
- From the section Business
Airline Easyjet reported a half yearly loss of £24m, compared with profits of £7m for the same time last year.
Sales edged up by 0.3% to £1.77bn and passenger numbers grew from 28.9 million to 31 million..
Attacks in Paris, Egypt and Brussels affected bookings and profits were more strongly affected by a fall in the value of the pound.
The company said it was “confident” that passenger numbers, sales and profits will grow this year.
“EasyJet has delivered a robust financial performance during the half year despite the well-publicised external events,” said chief executive Carolyn McCall.
She says the reason for the loss was the impact of adverse currency conditions.
Winter is often a weaker time for airlines and they often make a loss.
On Monday shares in Easyjet rose by 3.8% after broker RBC raised its outlook to “outperform” from “underperform”, saying that the business was tackling its cost inflation problems.
Source: BBC Business