easyJet loses 61.3 million in its first fiscal semester

The turnover increased 19.5% to 2,481 million euros

easyJet recorded losses of 54 million pounds sterling (61.3 million euros) in its first fiscal semester, ended on March 31, compared to losses of 192 million pounds (224 million euros) recorded in the same period from the previous year.

The British ‘low cost’ closed the first semester with a half-yearly loss before taxes of 68 million pounds sterling (77 million euros), significantly reducing the 236 million pounds of losses (267 million euros) a year earlier.

In the first half of its fiscal year it obtained revenues of 2,183 million pounds sterling (2,481 million euros), 19.5% more compared to the same period of the previous year.

Regarding the number of passengers, easyJet transported 36.8 million, 8.8% more than in the same period of the previous year, while the load factor during this period was 91.1%, compared to 90, 2% of the previous year. The passengers of easyJet include 700,000 Berlin Tegel operations, launched last January.

The managing director of easyJet, Johan Lundgren, said that these results have been driven by the record number of passengers that reached 37 million, as well as the reduction of capacity of other airlines and the strength boost of the easyJet brand. Lundgren also highlighted the milestone of transporting 13 million business travelers per year.

Regarding the future strategy has announced an increase in investment in easyJet Holidays along with a series of initiatives to increase the number of business travelers. In addition, a new loyalty plan will be launched that will reinforce all these initiatives, as well as a data analysis plan to improve the customer proposal, reduce costs and increase revenues.

The airline will continue to be committed to its dividend policy for the full year, to which it will allocate 50% of the after-tax benefit. The airline already paid a dividend of 40.9 pence per share in March.

INCREASE YOUR COSTS

The operating result before rentals and amortizations (Ebitdar) was positive with gains of 118 million pounds sterling (134.1 million euros), compared to losses of 73 million pounds sterling (85.7 million euros).

In terms of costs, excluding fuel, increased by 6.52% to 1,683 million pounds sterling (1,912 million euros).

The fuel item reached 450 million pounds sterling (511.4 million euros), which is 1.96% less compared to the same period of the previous year.

At March 31, the company has cash in cash of 665 million pounds sterling (755.9 million euros), 88.3% more. The net debt amounts to 413 million pounds sterling (469 million euros), 2.59% less.

easyjet expects to grow 5% in capacity during the second half of the year. The airline estimates that the cost per seat will grow by 2%, excluding fuel.