Markets boost easyJet shares despite H1 losses

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Markets boost easyJet shares despite H1 losses
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FTSE 100 budget airline easyJet (LON:EZJ) has seen its share price ascend 4.88% to 1,020.50p (as of 14:40 BST) after it announced that revenues rose by 7.3% during the six months ended 31st March. However, revenues per seat dropped by 6.3% and the company booked a pre-tax loss of £272 million for the period.

CEO John Lundgren commented: “I am pleased that despite tougher trading conditions, we flew more than 41 million customers, up 13% on last year, performed well operationally with 54% fewer cancellations in the period and customer satisfaction with our crew is at an all-time high. We have also continued to make good progress on our strategic initiatives in holidays, loyalty, business and with data.

“Cost control remains a major priority for easyJet. Our focus is on efficiency and on innovation through data and we are on track to deliver more than £100m in cost savings during 2019.

“We are well-equipped to succeed in this more difficult market through a number of short term customer and trading initiatives for the summer; measures to improve our operational resilience; and by focusing on what is most important to customers – value for money, punctuality and great customer service. All this is underpinned by a market leading balance sheet“.

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