Money: EasyJet makes loss amid rising fuel costs and Gatwick drone incident - - PressFrom - United Kingdom
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MoneyEasyJet makes loss amid rising fuel costs and Gatwick drone incident

14:00  17 may  2019
14:00  17 may  2019 Source:   msn.com

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EasyJet said the flight disruption caused by drone sightings at Gatwick before Christmas had cost it £15m, but insisted it had made a good start to About 82,000 easyJet customers were affected and more than 400 flights cancelled after to the drone sightings, which brought the UK’s second-busiest

EasyJet has said last month's drone disruption at Gatwick was a "wake-up call" for airports. The drones caused blanket cancellations over a number of days in December and He also said he was "proud" of the way staff worked around the clock to look after customers affected by the drone incident .

EasyJet makes loss amid rising fuel costs and Gatwick drone incident © Gareth Fuller EasyJet’s costs were higher in the first half (PA)

Higher fuel prices and the Gatwick drone incident caused turbulence for EasyJet in the first half, but the airline said it is on course to deliver annual profits in line with expectations.

The group reported a headline loss before tax of £275 million for the six months to March 31.

Revenue was up 7.3% to £2.34 billion, due to capacity growth and favourable foreign exchange rates.

But growth was held back by the timing of Easter, as well as comparison to last year when Monarch’s bankruptcy and Ryanair cancellations benefited EasyJet.

Total revenue per seat decreased by 6.3% to £50.71.

The company said costs per seat were also higher, up 3.9% to £56.66. This was down to fuel price increases and underlying cost inflation.

The disruption caused by drones at Gatwick Airport in December was also blamed, with EasyJet booking a £10 million direct loss due to the incident.

EasyJet makes loss amid rising fuel costs and Gatwick drone incident © Getty CEO of EasyJet, Johan Lundgren

Chief executive Johan Lundgren said: “I am pleased that despite tougher trading conditions, we flew more than 41 million customers, up 13% on last year, performed well operationally with 54% fewer cancellations in the period and customer satisfaction with our crew is at an all-time high.

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The drone incident had a £5m revenue impact and £10m in extra costs for EasyJet . EasyJet said it lost £15m in the 36 hours of travel chaos sparked by drones flying into London's Gatwick Airport in December. That knocked around £5m off its revenue and cost the airline £10m to help its customers.

The UK low- cost carrier lost £10 million in customer welfare costs and another £5 million in canceled flights. In what it’s calling a “wake up call” for airports, UK low- cost carrier EasyJet disclosed Tuesday that it lost £15 million (.4 million) in the drone incident that disrupted London’s Gatwick

“We have also continued to make good progress on our strategic initiatives in holidays, loyalty, business and with data.”

The firm expects profits for the 2019 financial year to be in line with expectations.

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EasyJet makes loss amid rising fuel costs and Gatwick drone incident

It comes after the group warned in April that it would make a loss in the first half amid rising costs and greater uncertainty due to Brexit.

Ed Monk, associate director from Fidelity Personal Investing’s share dealing service, said: “Today’s first half results were at least no worse than those warnings but are grim nonetheless.

“Even an encouraging improvement in customer numbers couldn’t prevent the predicted fall in revenue per seat.”

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£11m Wales international footballer Rabbi Matondo has to be escorted off EasyJet flight by three police officers after Schalke star called stewardess a 'sl*t' and refused to fasten his seatbelt.
£11m Wales international footballer Rabbi Matondo has to be escorted off EasyJet flight by three police officers after Schalke star called stewardess a 'sl*t' and refused to fasten his seatbelt

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