Business

Wednesday 7 December 2016

EasyJet swings to half-year loss as security fears hit travel

Sarah Young

Published 10/05/2016 | 07:54

Carolyn McCall, chief executive officer of Ryanair rival EasyJet
Carolyn McCall, chief executive officer of Ryanair rival EasyJet

British low-cost carrier EasyJet swung to a half-year loss due to a fall in travel demand on security concerns linked to attacks on European capitals, flight cancellations in Egypt and air traffic control strikes in France.

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For the full-year EasyJet said it remained on track to meet market expectations despite posting a pretax loss of £24m in the six months to March 31, which compared to the £7m of profit it made last year.

In what it said was a show of its confidence in future profit growth, EasyJet said it would increase its dividend payout ratio by a quarter to 50pc of post-tax income, subject to approval at its annual meeting.

Reuters

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