The UK’s leading budget airline on Thursday predicted a strong summer of travel and continued improvement to its bottom line, despite reporting a loss before tax of £545 million ($674m) in its results for the six months ending March 31.
EasyJet's optimism came from losses falling 22 per cent compared to the equivalent trading period in the six months to October 2021 when a £701m deficit before tax was reported.
Revenue for the H2 trading period increased 524 per cent to £1.49 billion compared to £240m in H1.
Chief executive Johan Lundgren said the improved performance came from pent-up demand after the removal of Covid-19 related travel restrictions, and the company's success in selling a range of products such as hotels and car rentals.
“EasyJet has reduced its losses year on year, at the better end of guidance," he said in a statement. "The pent-up demand and removal of travel restrictions provided for a strong and sustained recovery in trading which has been further boosted as result of our actions.
“We have transformed the airline during the pandemic, which has enabled us to emerge with renewed strength, underpinned by a product, network and service that customers really value."
Mr Lundgren expects the upwards trend to continue, forecasting a return to full capacity towards the end of the financial year.
“Since Easter we have been flying up to a quarter of a million customers and 1,600 flights every day and in the second half leisure and domestic capacity will be above 2019 levels," he said.
"We expect to operate 90 per cent of FY19 capacity in Q3 and we have capacity on sale of around 97 per cent of FY19 flying in Q4 with easyJet holidays now on track to carry over 1.1 million customers this financial year."
Over the past 10 weeks, customers of the airline have booked 6 per cent more tickets than they did in the same period two years ago.
The airline has moved planes to new routes in better-performing markets and managed to weather the surge in the price of jet fuel in recent months.
In the past year the price of a tonne of fuel has almost doubled, to £617 ($762), easyJet said.
Yet the cost of the fuel bill that easyJet had to pay for every seat on the planes that took off was actually nearly a fifth lower. The business said it had bought enough fuel in advance to withstand the increasing costs.
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Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
Hili 2: Unesco World Heritage site
The site is part of the Hili archaeological park in Al Ain. Excavations there have proved the existence of the earliest known agricultural communities in modern-day UAE. Some date to the Bronze Age but Hili 2 is an Iron Age site. The Iron Age witnessed the development of the falaj, a network of channels that funnelled water from natural springs in the area. Wells allowed settlements to be established, but falaj meant they could grow and thrive. Unesco, the UN's cultural body, awarded Al Ain's sites - including Hili 2 - world heritage status in 2011. Now the most recent dig at the site has revealed even more about the skilled people that lived and worked there.
UAE currency: the story behind the money in your pockets
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UAE currency: the story behind the money in your pockets
Can NRIs vote in the election?
Indians residing overseas cannot cast their ballot abroad
Non-resident Indians or NRIs can vote only by going to a polling booth in their home constituency
There are about 3.1 million NRIs living overseas
Indians have urged political parties to extend the right to vote to citizens residing overseas
A committee of the Election Commission of India approved of proxy voting for non-resident Indians
Proxy voting means that a person can authorise someone residing in the same polling booth area to cast a vote on his behalf.
This option is currently available for the armed forces, police and government officials posted outside India
A bill was passed in the lower house of India’s parliament or the Lok Sabha to extend proxy voting to non-resident Indians
However, this did not come before the upper house or Rajya Sabha and has lapsed
The issue of NRI voting draws a huge amount of interest in India and overseas
Over the past few months, Indians have received messages on mobile phones and on social media claiming that NRIs can cast their votes online
The Election Commission of India then clarified that NRIs could not vote online
The Election Commission lodged a complaint with the Delhi Police asking it to clamp down on the people spreading misinformation
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GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
BIRD%20BOX%20BARCELONA
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Dubai Creek Open in numbers
- The Dubai Creek Open is the 10th tournament on this year's Mena Tour
- It is the first of five events before the season-concluding Mena Tour Championship
- This week's field comprises 120 players, 21 of which are amateurs
- 15 previous Mena Tour winners are competing at Dubai Creek Golf and Yacht Club
Killing of Qassem Suleimani
Killing of Qassem Suleimani
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
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