Business travel boosts easyJet
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Business travel reached a record 12 million passengers within 12 months for easyJet as its half year results showed revenues increased 6.3%.
The Luton-based carrier reached the milestone for the first time in the 12 months to 31 March 2014, as its passenger count kept up with the capacity added within the first six months of its financial year.
Capacity grew 3.6% to 31.1 million seats with the average load factor at 89%, with allocated seating and a number of initiatives pushing its total revenue per seat up 1.5% year-on-year to GBP54.80.
Total revenues in the H1 results showed a 6.3% increase to GBP1.7 billion with its losses improving 13.6% to come in at a loss of GBP53m.
easyJet has been strategic with its network growth identifying money-making gaps in the European short-haul market, most recently with the opening of new bases in Naples and Hamburg. It now has 24 bases around Europe.
“easyJet has delivered a solid first half performance despite the less benign capacity environment. The results reflect our on-going progress against our strategic priorities, and demonstrate the structural advantage easyJet has against both legacy and low cost competition in the European short haul market,” said chief executive Carolyn McCall.
“By continuing to deliver our strategy of offering customers lower fares to great destinations with friendly service while focusing upon costs, we can continue to deliver sustainable growth and returns for our shareholders. There continue to be a number of attractive opportunities for easyJet to grow profitably in Europe and we look forward to making further progress in the second half of the year,” she added.
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