Home Business NewsBusinessAviation News EasyJet reports loss over rising fuel costs

EasyJet reports loss over rising fuel costs

by LLB Reporter
17th May 19 9:12 am

EasyJet has been hit with higher fuel prices and the Gatwick drone incident that has caused turbulence for the airline.

The airline is on course to deliver annual profits in line with expectations. EasyJet reported a loss before tax of £275m in the six months to 31 March.

Due to capacity growth and favourable foreign exchange rates, revenue for the group was up by 7.3% to £2.34bn.

Cost per seats were also higher by 3.9% to £56.66, this was down to underlying cost inflation and a hike in fuel prices.

In December the disruption caused by drones at Gatwick Airport cost EasyJet a whopping £10m loss.

Johan Lundgren, chief executive said,“I am pleased that despite tougher trading conditions, we flew more than 41m customers, up 13% on last year, performed well operationally with 54% fewer cancellations in the period and customer satisfaction with our crew is at an all-time high.

“We have also continued to make good progress on our strategic initiatives in holidays, loyalty, business and with data.”

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