EasyJet cuts losses as competition intensifies

Low-cost airline easyJet today said it had narrowed half-year losses to £17m (€24.9m), a day after shocking investors with a warning over fares pressure.

The Luton-based group’s half-year results showed a 14% increase in revenues to £719m (€1.05bn), helped by an 11% rise in passenger numbers to 16.4 million. Losses in the seasonally quieter period were down 58% from £40m (€58.7m).