EasyJet with full-year profit
November 18, 2014
Cheap fares helped EasyJet win market share in the European short-haul travel sector, the British budget air line said Tuesday in its earnings report for the full business year to the end of September.
Europe's number-two low-cost airline saw its annual net profit rise by 13 percent to 450 million pounds ($704 million, 565 million euros), with #link:http://corporate.easyjet.com/~/media/Files/E/Easyjet-Plc-V2/pdf/investors/results-centre/2014/2014-full-year-results-18-nov.pdf:pre-tax operating earnings even climbing by 22 percent.#
Passenger numbers jumped by 7 percent to 64.8 million as EasyJet picked up business dropped by Air France, which had to cancel a large number of fights during a record two-week strike by its pilots.
Rewarding its shareholders
"Our performance demonstrates our continued focus on cost and progress against every strategic revenue priority," CEO Carolyn McCall said in a statement.
EasyJet announced an increase in its ordinary dividend per share by 35.5 percent to 45.5 pence.
The company's main rival in the segment, Ireland's Ryanair, has recently been seen moving into space traditionally occupied by EasyJet, improving its customer service and expanding into primary airports used by business travelers.
hg/nz (Reuters, AFP)