EasyJet sees profits soar as low-cost carrier market consolidates

HANNIBAL HANSCHKE

(FILE) A file photo dated 27 June 2011 showing an airplane from the British airline easyJet refuelling at Berlin-Schoenefeld Airport in Schoenefeld, Germany.

EasyJet sees profits soar as low-cost carrier market consolidates


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The second biggest low-cost carrier in Europe, Easyjet, is projecting 45% higher annualized profits for the season ending in September 2018.

The UK-based carrier has benefitted from industrial action by many of its competitors, including Air France, but also the bankruptcy of its competitor Monarch. The company also benefited from picking parts of the insolvent Air Berlin carrier in Germany.

The £530-580 million (€620-650m) comes despite severe weather conditions in the first quarter, air traffic controllers industrial action, and the rising cost of fuel.

The company is about to receive its first Airbus A321neo planes, which will give the company a competitive advantage among low-cost carriers servicing popular routes from the UK to Spain.

Although EasyJet is a UK-based company, it expects that a deal will be secured for aviation on time to avoid disruption of service.

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