News World easyJet strikes upbeat tone on year ahead as annual profit soars

easyJet strikes upbeat tone on year ahead as annual profit soars

British low-cost airline easyJet struck an upbeat tone on 2019’s summer bookings and reiterated its half-year outlook after record demand in 2018 helped the group to post a 41 percent jump in annual profit

easyJet, the no.2 low-cost airline in Europe behind Ryanair , stuck to its prediction for first-half revenues per seat to fall by low to mid-single digits compared to the year-earlier, which had been boosted by a number of one-off factors.

Looking ahead, it also said that bookings for next summer, its most profitable period, were slightly ahead of last year, and described first-half bookings as “solid”, shrugging off concerns that Brexit risks could deter travel in its main UK market.

easyJet had in September highlighted the profit rise for its 2017/18 financial year. For the 12 months ended Sept. 30, it posted headline pre-tax profit of 578 million pounds ($742.67 million), at the top end of a forecast for profit to come in between 570 million pounds and 580 million pounds.

The group on Tuesday also lifted its full-year dividend by 43 percent, and said it was well-prepared for Britain’s exit from the European Union, on an ownership and operator certificate basis.

Last year’s results were boosted by the collapse of smaller rival Monarch, and cancellations at Ryanair due to a rostering issue, and overall, easyJet’s recent buoyant performance contrasts with strike-hit Ryanair, which has warned that disruptions would hit its profit.

(Reuters)

Top Stories

Man wanted for burglaries and thefts (photo)

Marios Charalambous, 34, pictured below, is still wanted by Police in connection to cases of conspiracy to commit a felony, burglary, and breaking and...

UK’s Prince Harry and wife Meghan urge Americans to vote in November’s election

Britain's Prince Harry and his American wife Meghan have called on Americans to register to vote in the upcoming U.S. presidential election, entering into...

Man wanted for Limassol burglary (photos)

The man (pictured) is wanted by Police in connection with a case of burglary committed early on Monday in Limassol. Anyone with information please contact...

Additional covid measures to be imposed in Larnaca, heath expert says

Additional measures will be imposed in Larnaca where the new epicentre of coronavirus outbreaks currently is, according to Dr Leontios Kostrikis who is a...

Boy with cerebral palsy left without kindergarten exclusive carer

The parents of a four-year-old boy born with cerebral palsy are asking for a specialised school carer now that he is old enough to...

Taste

Spicy grilled soutzoukakia

Place all ingredients for soutzoukakia in a bowl and mix well, preferably using a food processor, until well combined. Using the mixture, form cigar-shaped...

Souvlakia

Pork souvlaki: Put the meat and all the other ingredients in a bowl (not metal) and mix well. Cover the bowl and keep in...

Pastelli (Carob Toffee)

The nutritional sweet of Pastelli is made with the syrup of carob pods, produced by boiling their pulp until it forms a thick, sticky...

Meatballs with tomato and cumin

Place all meatball ingredients in a bowl and knead well with hands. Keep the mixture in the fridge for approximately 1 hour to thicken. In...