Easyjet Announces Successful Financial Year

Easyjet, one of the largest airlines in the UK, is expected to make a profit for its quarter closing September 30 2012, according to the airline.

The airline is also reporting a 5 percent to 5.5 percent increase in revenues per seat for the six months ended September 30, 2012, against an earlier guideline that predicted a lower rate of increase compared to the same period last year. The airline has further reported a capacity growth of 7 percent for the first six months of 2012, compared to the same period in 2011.

Although business in Europe remains uncertain from an economic viewpoint, the airline, unlike many of its counterparts, has managed to steer away from disruption in 2012. It expects to make pre-tax profits of £280 million, to £300 million, for its financial year, which ends on September 30, 2012.

Carolyn McCall, the airline’s chief executive officer, said, ‘easyJet has had a strong summer performance, which has enabled us to deliver another good year of returns and growth for our shareholders. Strong post Olympics trading and a benign operating environment along with the continued strict allocation of capital and aircraft across our leading network, improvements in revenue management and marketing, and a tight control of costs has meant that easyJet will deliver higher returns and its highest ever pre-tax profit for the financial year ending 30 September 2012, despite absorbing an additional £230 million in fuel costs this year.

We also continue to deliver for our customers with the best on-time performance in Europe this summer, low fares to convenient airports across Europe and our recently announced launch of allocated seating across the easyJet network.’

Earlier, the company announced allocated seating on all routes of its network from November 2012. The allocated seating includes a priority boarding system against a payment of a minimum of £3 per person, and passengers that purchase Speedy Boarding will board the aircraft first, followed by passengers requiring special assistance and families, and finally all other passengers.