Getting away: EasyJet on course for record full-year profit

Published on 04/10/2012 00:00

EASYJET is on course to report its highest-ever full-year profits following a surge in the number of Britons looking to get away in the latter part of the summer.

It expects to report a pre-tax profit of £310-£320 million for the year following strong demand for flights out of London after the Olympics. Chief executive Carolyn McCall, pictured, said bookings to Portugal and Spain were particularly popular, suggesting that many were keen to escape the summer’s record-breaking wet weather.

The results will be a boost for EasyJet management, which has fended off long-running attacks from founder and major shareholder Stelios Haji-Ioannou. Sir Stelios has argued for years against the company’s fleet expansion, saying that the cash should instead be returned to shareholders.

EasyJet has also benefited from unusually low levels of strike action across Europe’s airports. However, the company cautioned that challenges remain, including higher fuel costs, increasing airport charges and continuing economic uncertainty, particularly in Europe.

KRISTY DORSEY