24 May 2005
LOW-COST airline easyJet has said that its first-half losses have widened because of higher fuel costs. But the decline in the amount it earns from each customer - because of fierce price competition from the likes of Ryanair and bmi - appears to have halted.
The no-frills carrier, which is expanding aggressively in Europe, said average air fares were flat in the period despite stiff competition, but high fuel costs meant annual profits would be lower than last year.
EasyJet said it recorded a pre-tax loss before goodwill of £22m for the six months to the end of March, compared with a loss of £19m previously. The result was in line with market expectations.
Cheers,
White Cap
