easyJet posts 27% profit boost
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easyJet saw its profits before tax increase by 27.9% to GBP317 million in its latest year-end results.
The low-cost carrier carried 7.1% more passengers to 58.4 million in the year up to 30 September 2012, with load factors up 1.4% to 88.7%. It has attributed its success to targeting routes with strong potential; website improvements; its ‘Europe by easyJet’ campaign and capacity constraints. It has now increased its dividend from 10.5p to 21.5p with shareholders to receive GBP85m.
“These results demonstrate that easyJet is a structural winner in the European short-haul market against both legacy and low cost competition. The strength of easyJet’s business model and strategy coupled with the hard work and dedication of the easyJet team has delivered record profits as well as a significant increase in returns for shareholders during the year,” said Carolyn McCall, chief executive of easyJet.
“Whilst there is always the potential for unexpected events to temporarily impact financial results the Board of easyJet is confident that its business model, strategy and people will consistently continue to generate superior returns and growth for shareholders,” she added.
New Manchester routes
Meanwhile, the carrier announced it will launch flights between Manchester and Moscow next year. Four flights a week will be operated on the route from March and will also launch services from Manchester to Prague and Thessaloniki. In addition, the airline will boost its services to Paphos and Santorini
