Easyjet hails 'robust' performance

Jessica TranterLast Update : Tuesday 10 May 2016 - 9:33 AM
Easyjet hails 'robust' performance

Easyjet hails ‘robust’ performance despite external challenges

easyJet plane tailsImage copyright AFP/Getty Images

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

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2016-05-10 2016-05-10
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Jessica Tranter