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EasyJet's profits take a 65% hit
BUDGET airline EasyJet has seen its annual profits dive 65 per cent but said it was one of the few carriers to make a surplus in the recession.
The group yesterday posted underlying pre-tax profits of 43.7 million for the year to 30 September, compared with 123.1m in 2008.
It said it was a "resilient" performance, but predicted a "tough winter" as rising unemployment takes its toll on demand. The airline is expecting a "substantial" improvement to profits next year as capacity improves and it benefits from the effect of hedging on fuel prices.
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Weather for Edinburgh
Thursday 24 May 2012
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