Wednesday May 7, 08:10 AM
easyJet losses widen
LONDON (ShareCast) - Budget airline easyJet said half-year pre-tax losses widened after acquisition costs and as it continues to grapple with soaring oil prices. Loss before tax widened to £57.5m for the six months ended 31 March
2008 from £17.1m the year before. The figure is in line with expectations and includes £9.1m of one-off costs associated with the integration of GB Airways.Total revenue rose 24% to £892.2m while its load factors remains at 81%. EasyJet (LSE: EZJ.L - news) , which issued a profit warning in March, said passenger numbers were up 15% to 18.9m while forward bookings for the summer were ahead of last year. "Oil remains the biggest challenge and uncertainty," the group said in a company statement. "In the current challenging higher fuel price environment it is crucial that easyJet continues to focus on its key growth drivers; the development of its European network...continual focus on margins via tough management of costs and capturing new revenue opportunities."
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