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easyJet switzerland

Strong maiden results from "the web's favourite airline"

Kloten (ots)

easyJet plc, the fast-growing low cost airline,
today announced maiden preliminary results for the year ended 30
September 2001.
Highlights of the full year's performance include:
- Profit before tax up 82% to £40.1m (2000: £22.1m) 
   - Revenues up 35% to £356.9m (2000: £263.7m)
   - Passenger numbers up 26% to 7.1m (2000: 5.6m)
   - Load factor up 2.2 percentage points to 83% (2000: 80.8%)
   - Average internet sales percentage over the financial year 86.5%
     (2000: 65.1%)
   - Introduction of nine new routes
Ray Webster, Chief Executive, commented:
"easyJet continues to focus on strengthening its network density.
The introduction of nine new routes over the last financial year
means that easyJet now flies to 17 airports and operates 35 routes.
"Orders are in place for 10 new Boeing aircraft, which will arrive
during the next financial year and easyJet plans to take delivery of
all 25 of its B737 - 700s between October 2001 and May 2004.
"We believe easyJet is in a strong position to capitalise on the
downsizing of other carriers' networks.  Its business model has been
built on high frequency between major cities, creating credible
alternatives for the business traveller.  Also, if the economies
slow, we expect that business travellers will seek low-cost
alternatives and will migrate from the full-fare carriers.
"These are still very early days since the New York and Washington
attacks, and all airlines are still learning about the changed
European environment. We are cautiously optimistic about the trading
environment, and believe that our business model is robust and able
to operate within whatever security regime exists in Europe.
"Although global demand will be affected, easyJet believes that
low-cost airlines will be more resilient, particularly if they fly
point-to-point within Europe.  In comparison with most national flag
carriers, the low-cost point-to-point European airlines should
"The industry will experience some short-term pain, but we expect
that the contraction of the industry is likely to provide a range of
unique slot and airport opportunities for easyJet. Also, the
availability of cheaper aircraft and a larger pool of pilots may aid
growth opportunities.
"While some other airlines are announcing job losses and fleet
capacity reductions, we look forward to hiring additional staff to
deliver planned growth".
A briefing for analysts will be held at 7.30am at UBS Warburg,
Conference Centre, Ground Floor, 1-2 Finsbury Avenue, London EC2M
2PP. For further details


Tom Wepfer
Market Manager Eastern Switzerland
Auenstrasse 65
8302 Kloten
Mobile +41 78 635 96 00

easyJet plc
Toby Nicol, Head of Corporate Communications, phone +1 1582 525 339
Ray Webster, Chief Executive
Chris Walton, Finance Director

Charles Cook / Clare Abbot 020 7417 4170