EasyJet’s losses continue to mount up due to the hardening economic enviorment, and the current bogeyman of all airlines – increased fuel costs.
EasyJet reported pre-tax losses for the six months to the end of March of £153m , an increase from the loss of £79m on a year ago.
Already, an extra £43m has been put aside due to the cost of aviation fuel due to the 40% rise in fuel (thanks to the unrest in North Africa and the Middle East). Meanwhile traffic figures suggest there is growth, with passenger numbers increasing by 12% to under 24 million bums on seats.
EasyJet are not expecting the price of fuel to drop over the period.
As the European airlines are learning from the US Airlines, they are at the mercy of fuel companies… which all affect the bottom line… and the fare you wind up paying….
