EasyJet remained profitable, but with a 50 percent fall to £54.7m. Revenues were up 13 per cent to £2.67 billion for the year ending 30 September 2009. The low-cost company was hit hard by its hedges on fuel prices, which it bought when fuel was higher. The Financial Times notes that “Although the price of oil has fallen from a high of $147.27 in July 2008 to about $80 a barrel this month, EasyJet’s locked-in hedges caused an “adverse variance to market rates” of about £330m for the full year.”
Links to other sites: EasyJet, Financial Times, Guardian, UK
Posted by :: Ellen Wallace on 17 November 2009 at 15:31 | permalink
News story, GenevaLunch, 17 November 2009.
Filed under: World news
Tags: annual results, EasyJet, fuel, profits
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