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Business travel helps easyJet to ride storm

18 November 2009

The recession has put travel budgets under pressure at most companies and easyJet said that it had benefited from passengers trading down from traditional, full-service carriers.

Its strong performance in this market was reflected in its results for the year: Revenues rose 13 per cent to £2.67 billion and passenger numbers were 3.4 per cent up at £45.2 million. Profits fell 65 per cent to £43.7 million largely thanks to an £86 million increase in its fuel bill.

EasyJet also warned of a “‘tough winter’” as rising unemployment hits demand for travel. It has sold about 45 per cent of its winter schedule, but yield ” the amount of money it makes from each seat ” has fallen as it cuts prices to fill flights.

source: Times Online

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