Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

European budget airline easyJet Chief executive Carolyn McCall Lionel Cironneau/AP/Press Association Images
EasyJet

easyJet revenue and passenger numbers up

Passenger numbers rose 7.1 per cent to 58.4 million in 2012.

EASYJET HAS SEEN an increase in profit and passengers in 2012.

In its latest figures for the year ended 30 September 2012, the airline said that profit before tax was up by 27.9 per cent to a record £317 million and pre-tax profit margins grew by 1 percentage point to 8.2 per cent – despite a £182 million increase in unit fuel costs.

Seats flown grew by 5.5 per cent to 65.9 million and passenger numbers rose 7.1 per cent to 58.4 million.

Revenue

Total revenue per seat grew by 5.9 per cent to £58.51, driven by a number of factors including the success of the ‘Europe by easyJet’ campaign.

Cost per seat excluding fuel fell by 1 per cent for the full year. The easyJet Lean programme delivered”significant savings” in ground handling and non-regulated airport charges, by the increased number of larger A320 aircraft in the fleet and the exceptionally low levels of disruption in comparison to previous years, said the airline.

easyJet generated operating cash (excluding dividend payments) of £457 million in the year, an increase of 7.8 per cent compared to the prior year.

Commenting on the results, Carolyn McCall easyJet Chief Executive said:

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.

As “evidence of its confidence in easyJet’s current position and future prospects”, the company’s board now proposes to increase the dividend from 10.5p to 21.5p for the year ended September 2012. This will see its shareholders benefit from easyJet’s success with £85m of dividends.

Read: Ryanair apologises to EasyJet founder>

Your Voice
Readers Comments
9
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.