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EasyJet threw down the gauntlet to arch-rival Ryanair today, declaring that its profits will grow 20% over the next year on top of the 50% increase in earnings it has posted for the last 12 months.

That compares with Ryanair’s own estimated profit growth of about 17% as it expects to have to ramp up its ticket giveaways this winter to keep passengers flying.

Increasing ancillary revenues such as charging passengers extra for speedier boarding and persuading them to book hotels when they are booking their tickets, helped easyJet to record pre-tax profits of £201 million in the year to the end of September, up from £129 million last time.

source: ThisisLondon.com

Filed under easyJet, Low cost.