Easyjets annual profits sharply down as costs rise
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Published
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Tue, 18 Nov 2008 04:45
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London - Pre-tax profits at British budget airline Easyjet have fallen by 45 per cent to 110 million pounds (165 million dollars) in the financial year to the end of September, the airline said Tuesday. The firm said future economic conditions would be "difficult" and it would concentrate on offering passenger value, cutting costs and saving cash. Last week, Easyjet founder Stelios Haji-Ioannou raised his stake in the firm to 26.9 per cent and called for a cautious outlook. "Easyjet delivered a good trading performance in the financial year ending September 2008," Easyjet chief executive Andy Harrison said. Bookings were up over the year by more than 17 per cent. Easyjet carries around 40 million passengers a year.
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