Easyjet's Profits Surge Skywards / 22.11.2018

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Easyjet has announced record pre-tax profits with an increase year on year of 41.4% to £578 million on revenues of £5.9 billion.

Easyjet have benefitted from the collapse of Monarch Airlines and a string of pilot strikes by RyanAir.

The airline flew a record 88.5 million passengers last year up by 10% on the previous year. They seem to have cracked the problem of filling seats as well with 92.9% of all seats on flights filled. This means that just 13 seats on average remain empty on their flights. Most airlines hope to ‘load’ 75% of seats so Easyjet are well ahead of the game.

In terms of delays, one in four flights were delayed by 15 minutes or more – a 1% decrease in punctuality from the last financial year. Overall, Easyjet cancelled 6,814 flights, averaging 19 per day! They stated these were largely due to Air Traffic Control strikes and ‘Weather Events’. No details were provided for the number of flights cancelled due to technical issues which would of course mean they were liable to pay flight delay compensation.

The airline stated they intended to target business travel with new business fares and bundles soon to be launched. They also confirmed that, despite rumours, they were not interested in buying Flybe which has recently put itself up for sale.

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