EasyJet reports 16% profit increase

UK low-cost carrier easyJet has reported a strong set of results with underlying profit before tax up by £60 million to £248 million despite a £100 million increase in unit fuel costs. The airline credits the strong performance to “a firm control of costs, effective yield management, the strength of easyJet’s network and focus on customers”. EasyJet’s total revenue for the year ending September 30, 2011 was £3.45bn, up 16.1%. The airline’s reported profit before tax was £248m, up 60.8%. On Time Performance improved by 13 percentage points to 79% at easyJet. Total revenue per seat up 4.1% (3.4% at