Posted on 25/07/08
EasyJet cuts winter flights; chops profit forecast
Budget airline easyJet PLC said it will cut flights over the winter to trim costs as it revealed yesterday it expects full-year pretax profit to fall as much as 45 per cent because of higher fuel expenses. The carrier said the increase in oil prices over the past few months have added about £185-million ($373-million) to its fuel bill this year. EasyJet said the higher charges will result in a full-year pretax profit of between £110-million and £120-million - nearly half of what it reported last year. In a bid to keep costs down, easyJet announced a slimmer winter flying schedule, cutting capacity at London's Stansted Airport by 12 per cent. EZJ (London) fell 37.5 pence to £3.33.
The full text of this article has 126 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
