Easyjet make £72m profit
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Easyjet make £72m profit
Profit before tax up 78% to £71.6m (2001: £40.1m)
Revenues up 55% to £552m (2001: £357m)
Passenger numbers up 60% to 11.4m (2001: 7.1m)
Cost per Available Seat Kilometre down 1.3% to 4.46 pence (2001: 4.52 pence)
Average net fare down 4% to £46 (2001: £48)
Profit before tax, goodwill and exceptionals1 up 86% to £81.8m (2001: £44.1m)
So what about the work force.
Revenues up 55% to £552m (2001: £357m)
Passenger numbers up 60% to 11.4m (2001: 7.1m)
Cost per Available Seat Kilometre down 1.3% to 4.46 pence (2001: 4.52 pence)
Average net fare down 4% to £46 (2001: £48)
Profit before tax, goodwill and exceptionals1 up 86% to £81.8m (2001: £44.1m)
So what about the work force.
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Well of course the work force get completely shafted. We may be the most profitable uk airline, but its flying staff must also be the worst treated in the uk.
Give this airline (if you can call it that) a VERY wide berth if you are considering joining.
Give this airline (if you can call it that) a VERY wide berth if you are considering joining.
Join Date: Jul 2000
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Well no more excuses now, get your wallet out and share the money with people who really deserve it, hey?!
No doubt this will help in the pay negotiations or am I dreaming again?!
Imagine how much profit could have been made if certain individuals had not made some tragic and very expensive mistakes.
No doubt this will help in the pay negotiations or am I dreaming again?!
Imagine how much profit could have been made if certain individuals had not made some tragic and very expensive mistakes.
short flights long nights
Stelios has resigned ?????
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I cry for you poor pilots! You must really be struggling to make ends meet on that small pay packet you take home every month!!! Looks like you'll have to downgrade from the Merc to a BMW!! Boo Hoo!!
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Let's face it, some of you will never be happy....
You are working for a successful and expanding company. Nice shiny Busses on the way. Rosters now pretty stable after the well-publicised disasters of earlier this year.
LCA's have undoubtedly benefitted from passenger shifts after 9/11. We've had a good year. Fuel prices have been low, but Texas is about to go to war with Iraq so all that is about to change.
Look at all the other threads on this site.....Euroceltic in trouble, BACX base closures and general uncertainty within BA, MYT in trouble. etc. (Let alone SN, SWR, and uncertainty elsewhere in Europe.)
Personally I'm happy to be working in an environment where I have stability (far more than my previous employer as it turned out!), a reasonable pay packet, shiny new toys on the way, and a company that is keeping a tight rein on costs, even when times are good, so we have some in reserve for when the bad times hit us.
If you don't like it, you know where the door is!!
You are working for a successful and expanding company. Nice shiny Busses on the way. Rosters now pretty stable after the well-publicised disasters of earlier this year.
LCA's have undoubtedly benefitted from passenger shifts after 9/11. We've had a good year. Fuel prices have been low, but Texas is about to go to war with Iraq so all that is about to change.
Look at all the other threads on this site.....Euroceltic in trouble, BACX base closures and general uncertainty within BA, MYT in trouble. etc. (Let alone SN, SWR, and uncertainty elsewhere in Europe.)
Personally I'm happy to be working in an environment where I have stability (far more than my previous employer as it turned out!), a reasonable pay packet, shiny new toys on the way, and a company that is keeping a tight rein on costs, even when times are good, so we have some in reserve for when the bad times hit us.
If you don't like it, you know where the door is!!
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Mike Oscar and Bacon Torpedo,
One thing is clear about you both: you set standards SO low, that both of you should have no trouble attaining them!!
Yes, easyJet is a successfull and expanding company but lets' be honest here: £72 million is nothing comapred to what it could have earnt if it had been well managed this year. But, as the company itrself says, employees are the key to its' success and this year we have worked harder than usual to nullify the effects of the incompetence shown to us in many cases by those 37 receiving the Golden bonus. We have been loyal, workerd hard, flexible to the point of discretion whenever it was required and made the company worthwhile enough to continue expansion and profitability, while buying other airlines like Go. What gives either of you the right to tell me I should be satisfied while the company declares record profits, and only a few get to share what we have made. I do not work to make RW or JP wealthy, and neither do you!!!
I say Naff off to both of you (and would say worse if the forum allowed) Don't darken my doorstep again!!!!!!!!
One thing is clear about you both: you set standards SO low, that both of you should have no trouble attaining them!!
Yes, easyJet is a successfull and expanding company but lets' be honest here: £72 million is nothing comapred to what it could have earnt if it had been well managed this year. But, as the company itrself says, employees are the key to its' success and this year we have worked harder than usual to nullify the effects of the incompetence shown to us in many cases by those 37 receiving the Golden bonus. We have been loyal, workerd hard, flexible to the point of discretion whenever it was required and made the company worthwhile enough to continue expansion and profitability, while buying other airlines like Go. What gives either of you the right to tell me I should be satisfied while the company declares record profits, and only a few get to share what we have made. I do not work to make RW or JP wealthy, and neither do you!!!
I say Naff off to both of you (and would say worse if the forum allowed) Don't darken my doorstep again!!!!!!!!
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Mike Oscar,
Where in gods name have you been?
Your out of touch and out of tune.I suggest you get retuned.
The last summer was the most challenging to any tech crew with a disruption allowance which should have been generated ages ago.
Carmen system was chaotic and dangerous at times.
Thank god its gone!
71.6million profit!
10 million to 40 managers.
Explain to us all why we should now expect ANY disruption to our terms and conditions?
Nb Many thanks to James Varley regarding your help over options!
Where in gods name have you been?
Your out of touch and out of tune.I suggest you get retuned.
The last summer was the most challenging to any tech crew with a disruption allowance which should have been generated ages ago.
Carmen system was chaotic and dangerous at times.
Thank god its gone!
71.6million profit!
10 million to 40 managers.
Explain to us all why we should now expect ANY disruption to our terms and conditions?
Nb Many thanks to James Varley regarding your help over options!
Join Date: Feb 2001
Location: uk
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The following article from today's Times may explain why the share price fell. There is no truth in ghost-rider's assertion that the exercising of options has had an effect as there has as yet been insufficient time for any options to be exercised.
Shares in easyJet down by 14%
By Russell Hotten
SHARES in easyJet fell 14 per cent yesterday as investors worried that the rapid growth of Europe’s biggest budget airline may be coming to an end.
The carrier, which entered a new era as founder Stelios Haji-Ioannou officially stood down as chairman, reported another surge in pre-tax profits, up 78 per cent to £71.6 million last year.
But concerns about increased competition in the low-cost sector, and unease about acquisitions, cast a cloud over Mr Haji-Ioannou’s last day, with the shares falling 55¼p to 334¾p.
Revenues rose 54.6 per cent to £552 million, including an 18.5 per cent contribution from Go, the budget carrier that was spun off from British Airways.
Analysts pointed to a 4 per cent fall in average net fares to £46 as easyJet cut prices to fill new capacity. “I think the competition is probably having a bigger impact than they’re letting on,” Gert Zonneveld, at West LB Panmure, said.
However, Ray Webster, easyJet’s chief executive, said the fall was consistent with the carrier’s growth plans.
“The faster you grow, the more discounts and spending you have in the early stages,” he said.
As well as buying Go, easyJet also has an option to buy BA’s subsidiary in Germany. Mr Webster said work on assessing Deutsche BA was going well and he was optimistic about exercising the option.
But this purchase, along with easyJet’s move into some higher-cost airports and its acquisition of 120 aircraft from Airbus, has led some analysts to wonder if the airline is taking on too much.
Mr Haji-Ioannou, who set up easyJet in 1995 with two aircraft, was yesterday formally succeeded by Sir Colin Chandler, the former defence-aerospace executive.
Run out of an orange corrugated iron shed near Luton airport, easyJet epitomised the booming budget airline sector, which has stripped business from conventional carriers.
Copyright 2000 Times Newspapers Ltd
Shares in easyJet down by 14%
By Russell Hotten
SHARES in easyJet fell 14 per cent yesterday as investors worried that the rapid growth of Europe’s biggest budget airline may be coming to an end.
The carrier, which entered a new era as founder Stelios Haji-Ioannou officially stood down as chairman, reported another surge in pre-tax profits, up 78 per cent to £71.6 million last year.
But concerns about increased competition in the low-cost sector, and unease about acquisitions, cast a cloud over Mr Haji-Ioannou’s last day, with the shares falling 55¼p to 334¾p.
Revenues rose 54.6 per cent to £552 million, including an 18.5 per cent contribution from Go, the budget carrier that was spun off from British Airways.
Analysts pointed to a 4 per cent fall in average net fares to £46 as easyJet cut prices to fill new capacity. “I think the competition is probably having a bigger impact than they’re letting on,” Gert Zonneveld, at West LB Panmure, said.
However, Ray Webster, easyJet’s chief executive, said the fall was consistent with the carrier’s growth plans.
“The faster you grow, the more discounts and spending you have in the early stages,” he said.
As well as buying Go, easyJet also has an option to buy BA’s subsidiary in Germany. Mr Webster said work on assessing Deutsche BA was going well and he was optimistic about exercising the option.
But this purchase, along with easyJet’s move into some higher-cost airports and its acquisition of 120 aircraft from Airbus, has led some analysts to wonder if the airline is taking on too much.
Mr Haji-Ioannou, who set up easyJet in 1995 with two aircraft, was yesterday formally succeeded by Sir Colin Chandler, the former defence-aerospace executive.
Run out of an orange corrugated iron shed near Luton airport, easyJet epitomised the booming budget airline sector, which has stripped business from conventional carriers.
Copyright 2000 Times Newspapers Ltd
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As an employee. Great to see company doing well. Shame about the few miserable employees. You get them in every company.
Not many other airlines in UK sector doing as well as they hoped.
My view is those who dont like it should have the courage of their convictions and leave. Go and join the likes of BMI,KLM UK andMy Travel (to name a few) all of whom have quality employees who are unhappy with their lot. The grass is always greener.
Myjenkinsblackbollocks who would you join?
Same question to Colonel Klunk
Not many other airlines in UK sector doing as well as they hoped.
My view is those who dont like it should have the courage of their convictions and leave. Go and join the likes of BMI,KLM UK andMy Travel (to name a few) all of whom have quality employees who are unhappy with their lot. The grass is always greener.
Myjenkinsblackbollocks who would you join?
Same question to Colonel Klunk