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Air France Strike Helps EasyJet Increase Profits

Air France Strike Helps EasyJet Increase Profits

Fola Akintomide

London (AFP) – EasyJet’s annual profits climbed on the back of rising passenger numbers and sales, the no-frills British airline said Tuesday.

Net profits, or earnings after taxation, rallied 13 percent to £450 million ($704 million, 565 million euros) in the group’s financial year to the end of September, compared with 2012/13, EasyJet said in a results statement.

Pre-tax profits surged 22 percent to £581 million, which was slightly ahead of the group’s own forecast.

Passenger numbers jumped seven percent to 64.8 million, as the airline also picked up business from rival Air France — which had to cancel flights in September because of a record two-week-long pilots’ strike.

EasyJet’s total revenues meanwhile swelled by 6.3 percent to £4.527 billion.

“Our performance demonstrates our continued focus on cost and progress against every strategic revenue priority,” said chief executive Carolyn McCall.