Easyjet has seen profits rise 9% to £68m ($116m)

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Story from BBC NEWS:

Easyjet overcomes fuel increases

Budget airline Easyjet has seen profits rise 9% to £68m ($116m) in the year to September, after what chief executive Ray Webster called "sound progress".
Passenger numbers rose 21% to 29.6 million and the load factor, indicating how many seats are taken, was 85.2%.

The Luton-based carrier, which operates 212 routes to 64 airports, said it had seen strong growth in mainland Europe.

It also said new routes, cost cutting and rising demand had helped offset higher fuel costs.

'Good shape'

Ray Webster made his last statement as chief executive before retiring on 1 December to be replaced by Andrew Harrison, the former head of UK motoring services firm RAC.

Mr Webster said: "We've made sound progress in the year with good growth in passenger numbers and revenue.

"I'm pleased also with the expansion of our network and with 72 new routes added we are in good shape for future growth."

He said despite the fuel price increases the airline had minimised the rise in costs.

During the coming year he said Easyjet expected to achieve mid to high single-digit percentage profit growth.

Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/1/hi/b ... 458722.stm

Published: 2005/11/22 07:35:50 GMT

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