EASYJET last week reported record full-year results for the financial year ended 30 September 2003, comfortably in line with expectations. These included revenue up 69% to ”932m and profits before tax down 28% to ”52m, reflecting the Iraq conflict in the first half of the year and a number of one-off costs associated with the fruitless DBA chase, the major integration of Go and accelerated depreciation of aircraft. Passenger numbers were up 79% to 20.3m, easily making the airline Europe”s largest budget carrier. Load factor was 84% factor. At ”43.28 (excluding the government tax) the average passenger fare was 6.7% lower than previous year. The airline had ”335m cash on the balance sheet. easyJet chief executive, Ray Webster, said that he expected a 20% capacity growth in the current financial year.
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