Europe's second biggest discount airline after Ryanair, EasyJet, kept a bullish outlook today despite reporting an interim loss of £7 million in its first results since flotation last November. EasyJet is chaired by high-profile entrepreneur Stelios Haji-Ioannou.
The airline said unseasonably cold weather in Europe last December - which disrupted its UK flights - was a factor behind the loss for the six months ending March 31, which was higher than the year-ago loss of £2.3 million.
However, the airline said passenger numbers rose 31% to £3.2 million, helping lift revenues 43% to £142.8 million, and added that the second half had started well.
'EasyJet has seen firm trading in the first weeks of the second half. My colleagues and I remain confident of achieving our expectations for the full year,' EasyJet Chief Executive Ray Webster said in a statement.
Webster said he was confident the airline could capitalise on a global economic downturn as businesses look to cut costs and book cheaper flights for employees.
Similar discount airlines such as US-based Southwest Airlines and Ryanair have posted rising passenger numbers and profits in the last month, while traditional, long-haul carriers such as British Airways have seen revenues fall in the downbeat economic climate.
Webster added that EasyJet had not been affected by foot and mouth disease in Britain, which has led to travel restrictions and put many tourists off visiting the country. 'There's no indication of any difficulties coming as a result of problems in the macro-economic market, or foot and mouth,' Webster said.
He also said the company did not plan to take part in the current consolidation of the European discount airline market, as BA prepares to sell its no-frills carrier Go.
