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Easyjet Logs Sound Full-Year Profits

Easyjet Logs Sound Full-Year Profits

18.11.2014 12:45

No-frills British airline EasyJet has reported growing profits on the back of rising passenger numbers. The carrier picked up some business from rival Air France-KLM whose pilots had staged a record-long strike. Cheap fares helped EasyJet win market share in the European short-haul travel sector, the.

No-frills British airline EasyJet has reported growing profits on the back of rising passenger numbers. The carrier picked up some business from rival Air France-KLM whose pilots had staged a record-long strike.

Cheap fares helped EasyJet win market share in the European short-haul travel sector, the British budget air line said Tuesday in its earnings report for the full business year to the end of September.



Europe's number-two low-cost airline saw its annual net profit rise by 13 percent to 450 million pounds ($704 million, 565 million euros), with pre-tax operating earnings even climbing by 22 percent.



Passenger numbers jumped by 7 percent to 64.8 million as EasyJet picked up business dropped by Air France, which had to cancel a large number of fights during a record two-week strike by its pilots.



Rewarding its shareholders



"Our performance demonstrates our continued focus on cost and progress against every strategic revenue priority," CEO Carolyn McCall said in a statement.



EasyJet announced an increase in its ordinary dividend per share by 35.5 percent to 45.5 pence.



The company's main rival in the segment, Ireland's Ryanair, has recently been seen moving into space traditionally occupied by EasyJet, improving its customer service and expanding into primary airports used by business travelers.



hg/nz (Reuters, AFP)









 
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