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Budget airline easyJet boasts healthy profit

Nov. 15, 2011, London, U.K. - Budget airline easyJet has reported an 86 per cent increase in profit for the year ending Sept. 30 but warned of significant economic headwinds in the current year.


November 15, 2011
By Carey Fredericks

Profit after tax rose to 225 million pounds ($358 million), compared to 121 million pounds a year earlier. Revenue was 16 per cent higher at 3.45 billion pounds.

As announced in September, the airline plans a special dividend of 150 million pounds, plus the 10.5 pence per share dividend, at a total cost of 195 million pounds.

The carrier cautioned that it has felt the economic squeeze, with holiday bookings between June and August down 4 per cent year-on-year. It added that weak consumer confidence makes it more difficult to pass on higher costs for fuel and taxes to passengers.

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