Budget airline EasyJet has reported pre-tax losses of £24m for its first half to the end of March, though revenues nearly doubled to £373m following its acquisition of rival Go. After-tax losses came to £46.9m.
Passenger numbers in the period were 40% ahead at 9.3 million, while the load factor moved up one point to just over 82%. But the airline's average fare dropped nearly 11%, as it cut prices to stimulate demand in a weak market.
Chief executive Ray Webster said the loss was mainly due to the normal seasonal aspects of its business. It also lost the benefit of the Easter period, which fell in the second half this year.
The cost of integrating Go was £5.6m in the period, while there were also £9.2m of costs after EasyJet did not take up an option to acquire Deutsche BA.
On the outlook for the full year, EasyJet said April passenger numbers were up 34%, with yields down 3%. But Mr Webster warned that it was too early to predict the financial outcome for the year.
