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Easyjet Flying High - Business Is Good

Tue Nov 26, 2002 9:32 pm

Highlights - :

* 78% increase in annual profits

* GBP 71.6 million in pre-tax profits for the year to September 30

* 60% growth in pax to 11.4 million (over the year)

* Excluding Go acquisition, numbers still increased by 43% to 10.2 million

* Stelios will retain 22% stake in airline, but leaving Easyjet to concentrate on other parts of Easy Group (internet cafes, car rental)

* Average fares decreased by 4% to GBP 46


Source : http://news.bbc.co.uk/1/hi/business/2514231.stm
 
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RE: Easyjet Flying High - Business Is Good

Tue Nov 26, 2002 11:03 pm

EasyJet Group has announced a 78% increase in profit to £40 100 000 / US$62 704 370. The results were ahead of market expectations.

The threat of war, terrorist activity and the uncertain consumer environment were uncertainties EZY will face. Market demand was strong but yields lowered due to lower fares.

While EZY integrates Go operations, there will be no new routes "in the near future".

Operating profit rose 49% to £57 000 000 / US$89 130 900 on turnover which rose 36% to £486 000 000 / US$759 958 200.

Unfortunately, Stelios Haji-Ioannou will step down as chairman and will be replaced by Sir Colin Chandler. The former will concentrate on EasyCinema - a no frills cinema venture (you get no frills anyway. You have to pay for popcorn and drinks and the seats are there. What can he do? Take out the seats and make people sit on the floor?!)

More information at the Financial Times website

information was gathered from the above hyperlinked webpage full information can be viewed by clicking the above hyperlink> information was rephrased and currency conversion from United Kingdom Pounds to U.S. Dollars was provided courtesy of the Singaporeair.com currency converter


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