EasyJet cautious on future after cut in losses

No-frills airline easyJet today reported a narrowing of half yearly losses, but toned down optimism about its full year performance.

The UK-based budget carrier said losses before tax in the six months to March 31 had reduced to £27.3m (€40.4m) from £48.1m (€71.2m) the year before.

The group said it had performed well and continued to grow strongly, with passenger numbers up 15.9% to 10.8 million.

But easyJet said it was currently seeing unprofitable and unrealistic pricing by airlines across all sectors of the European industry.

In February, the group said it was “cautiously optimistic” about its full year result.

Chief executive Ray Webster said today that it was now cautious about the full year outlook due to the increasingly competitive market.

“Nevertheless, easyJet continues to strengthen its leading position and we expect to make continued and sustainable progress,” Mr Webster said.