easyJet profits rise as passenger numbers increase

easyJet has posted a 31.1% boost in its profit after tax, as its passenger numbers soared.

The Luton-based carrier saw a 15.8% improvement in earnings before tax and other measures (EBITDA), which went from £711 million in full-year 2013 to £823m in this year’s full-year results.

This growth was matched by an increase in passenger numbers, which went up 6.6% to 64.8m in the full-year, pushing load factors up 1.3% to 90.6%.

Looking into 2015 the airline will open in Amsterdam and Porto and continue a focus on ‘number one and two’ network positions. Around 20 Airbus A320s will join its fleet next year, which will also see a new brand campaign, passport scanning app and dynamic packaging development take place.

“easyJet has continued to execute its strategy, delivering another strong performance and enabling easyJet to deliver record profits for the fourth year in a row. We are also proposing to increase the proportion of our profits after tax paid in dividends from one third to 40%, reflecting our confidence in the future of easyJet,” said Carolyn McCall, chief executive of easyJet. “Our performance demonstrates our continued focus on cost and progress against every strategic revenue priority. Our people are fully aligned behind our strategy and this gives us strong momentum to continue delivering.

“easyJet has opened up clear blue sky between us and our competitors – both legacy and low cost – with our unique and winning combination of the best route network connecting Europe’s primary airports, with great value fares and friendly service.”

Winter bookings are currently slightly ahead of last year, with 49.2% of seats sold for October 2014 to March 2015 compared to 48.6% year-on-year.

sourced:traveldailymedia.com