Saturday 17 March 2018

easyJet makes profit of nearly €10m in traditionally weaker season


British low cost airline easyJet said it was positioned to continue to grow in this financial year, after swinging to a profit in its seasonally weaker first-half.

The group, which like rivals traditionally makes a loss over the winter when fewer customers fly, reported pretax profit of £7m (€9.75m) in the six months ended March 31, at the upper end of its forecast for between a loss of £5m and a profit of £10m.

This compared to a £53m loss during the same period a year earlier.

Analysts polled by Bloomberg had been anticipating a £3.8m profit.

easyJet said a lower fuel price and favourable currency movements as well as a strong finish to the ski season helped it make a profit in the first-half.

"easyJet continues to be well positioned to grow revenue and profit this year, delivering sustainable returns to shareholders due to its compelling network, low cost base and strong balance sheet," chief executive Carolyn McCall said in a statement.

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