Business

Easyjet makes record profits despite higher fuel costs

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Last Updated at 12 Dec 2017, 12:07 GMT *Chart shows local time easyJet intraday chart
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Easyjet has made a record profit after a rise in passenger numbers who delayed their holidays to after the Olympics.

The firm said pre-tax profits rose 28% to £317m for the year to 30 September, despite an extra £182m in fuel costs.

The group said it made 7.5% more money per person per seat as it flew more passengers on more profitable routes, helped also by changes to its booking website.

Easyjet shares rose 6% to close on Tuesday at 695p.

The airline, which is Europe's fourth largest, carried 58 million passengers, a rise of 7%.

Easyjet added that its first television advertising campaign had also helped to increase the number of passengers.

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Media captionEasyjet chief executive Carolyn McCall spoke to 5 live about results and seats

Easyjet's chief executive, Carolyn McCall, said: "Whilst there is always the potential for unexpected events to temporarily impact financial results the board of Easyjet is confident that its business model, strategy and people will consistently continue to generate superior returns and growth for shareholders."

Easyjet is increasing the number of routes it flies, adding a Manchester to Moscow service next year, following on from its recently announced Gatwick to Moscow route.

The company will also be launching new services to Prague in the Czech Republic and to Thessaloniki in Greece.

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