Budget airline EasyJet (LON:EZJ) narrowed losses over the six months ended 31st March to £18 million, helped by rival operators’ reduced capacity and the Easter period being partially within the half-year. Passenger numbers were up by 3 million to 36.8 million, leading to a 19% increase in total revenues, which climbed to £2.18 billion.
Part of EasyJet’s capacity improvement has come through new operations at Berlin’s Tegel airport, where the company expects its costs to rise because of higher security fees, fuel costs and noise charges.
Analysts from Hargreaves Lansdown commented that, “It’s a welcome change from recent years when brutal competition forced the industry to cut prices, eventually driving several smaller players out of the market. easyJet has taken advantage of its rivals’ misfortune to pick up some attractive routes and continues to grow its fleet. If price pressure continues to ease, that should be good news for the top line”.