EasyJet Reports First Half Loss

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Meta kai thn Ryanair mia alllh LCC emfanhzei zhmies.

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http://www.commercialaviationtoday.com

EasyJet plc today reported a 2004 first half pre-tax loss of £18.5 million (€27.8 million), down 24.2 percent from the £24.4 million (€35.6 million) it posted for the first half of 2003. Revenue of £440 million (€660 million) was up 18 percent while yield and load factor improved 1.6 percent and 1.1 percent respectively.

"Our business model continues to capitalize on its strong market position and the growing demand for low-cost air travel in Europe. Given our scale, the company is clearly positioned to benefit well into the future," said EasyJet CEO Ray Webster. "We are currently seeing unprofitable and unrealistic pricing by airlines, across all sectors of the European industry, seeking to grow or maintain their market share. We are reacting vigorously to this activity, continuing to extend our reach, growing capacity by some 20 percent this year, maintaining our leading market position and optimizing the use of our scale."

Passenger numbers were up 15.9 percent to 10.8 million, in line with the planned and controlled growth in capacity over the period of 15 percent. Cost per available seat kilometer was stable at 4.17 pence (€0.0625). The marginal increase on the prior year is primarily due to £2.7 million of additional crew costs for the new Airbus.

"At the time of our AGM in February we were cautiously optimistic about the full year result," said Webster. "However, given the increasingly competitive marketplace it is appropriate now to be cautious about the performance for the full financial year."
 
Oi zimies pou emfanizoun einai amelitees. Kai oi 2 etereies exoun fovera thetiko cashflow apo oles tis proigoumenes xronies rekor.
 
epitelous enas pou na asxoleitai me ta oikonomika se ayto to forum

kai gia na min ksexniomaste to cash-flow einai to alfa kai to omega se mia etairia, synepagetai eykolia plirwmis, daneiodotisis klp klp klp
 
July 4, 2004
Stelios Haji-Ioannou, the founder of budget British airline easyJet is considering taking the firm private, although no firm decision has been made, a spokesman said on Sunday.

"It is an option but nothing has been decided," the spokesman said.

The Sunday Express newspaper earlier reported that the entrepreneur was considering borrowing money to fund a GBP£650 million (USD$1.19 billion) takeover of easyJet after becoming alarmed at a sharp fall in its share price since 2002.

EasyJet shares plunged last month after the airline warned that 2004 pre-tax profits were likely to be below earlier market forecasts, due partly to the effects of a price war with Irish rival Ryanair and rising fuel costs.

Haji-Ioannou set up easyJet in 1995.

He stood down as chairman in 2002 and has sold off a vast chunk of his shares to fund other new business ventures, but his family still owns around 41 percent of easyJet's share capital.

"Stelios is very keen to be more than just a passive shareholder, he wants to be an active one as well," the spokesman said. "He will do everything he can to increase the value of his shareholding."

(Reuters
 
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