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Easyjet profits rise 18% on low fuel prices and cost cutting

Carolyn McCall, Easyjet chief executive, said that the airline has a positive future. 

Hazel Sheffield
Tuesday 17 November 2015 09:17 GMT
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Easyjet CEO Carolyn McCall (R) and founder Stelios Haji-Ioannou attend a media event to celebrate 20 years in business at Luton Airport, southern England, November 10, 2015.
Easyjet CEO Carolyn McCall (R) and founder Stelios Haji-Ioannou attend a media event to celebrate 20 years in business at Luton Airport, southern England, November 10, 2015.

Easyjet has said its profits were up 18 per cent in the 12 months ending September 30, making this the fifth straight year of record profits for the budget airline company.

The results were posted as Easyjet continued its plans to get all of its customers back from Sharm el-Sheikh, two and a half weeks after a Russian plane exploded after leaving the airport.

The effects of the plane disaster were not factored into these results.

Carolyn McCall, Easyjet chief executive, said that the airline has a positive future. "Our outlook for the longer term is positive. We expect demand in our markets to be sustained and for easyJet to continue to be a winner in its markets. We will see passenger growth of 7% a year," she said.

Passengers increased 6 per cent to 68.6 million in the last 12 months and revenue per seat increased 1.5 per cent on the previous year. Lower oil prices and a favourable exchange rate had contribued to the cost per seat decreasing 3.4 per cent.

McCall said that a few passengers had not yet come home from Sharm el-Sheikh but that all were due to return by the end of the day. She said that flying would not resume to Sharm until the Government has reviewed security at the airport.

McCall told the BBC that longer security measures will result. "It will take a little longer to get though airports, but I do not think that passengers will mind because it has to be safety-first," she said.

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