Easy jet

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Executive summary

Easy jet founded by Tselios Haji-Loannou, put in to one of the most competitive industries. After the effects of September 11th, reluctant to air travel passengers looked for alternatives, such as trains, cars, ferries. By introducing low-cost air travel began to attract people back into the industry. As well-established airlines began to suffer the difference in pricing became evident that air travel was to be revolutionized.

An analysis on easy jets market share, sales and profit trend and comparisons with its competitors will be discussed. The report will then lead into the strengths, weaknesses, opportunities and threats. Marketing environment with the application of macro and micro environmental models will be discussed. Later we'll discuss easy jets competitors.

Explanation of marketing strategies adopted by easy jet in the Airline Industry and its growth tactics. Then focus on easy jets efficient use of the marketing mix to enhance its competitiveness. Finally a discussion will be provided on easy jets current position, success factors in the industry and prospects for the future.

Introduction

I will be playing the role of a market researcher to evaluate the companies marketing a competitive strategy. The company easy jet was first established in the early 1995, the founder of the easy family was Stelios Haji-Loannou. He also branched out easy to various different regions of transactions such as easy cars easy money; the company base is located in Luton, and is recognized by the distinctive colour orange the building has been painted. Easy jet is one of the successful competitors in the low-cost airline industry, which at the moment is the leading low-cost airline in Europe, with has established 422 routes, from 122 airports all over Europe, with 122 aircrafts such as the Boeing 737 and airbus a319 aircrafts, transporting over 49 million passengers.

Company

Traditional airlines have used complex and costly hierarchical business models, which faced intense competition from the newer companies with a more simple approach to their business models. This helped to reduce costs in the company which also reduced costs for customers, and improved on communication and operations as communication was more direct then having to go through a chain of people. This flat structure also helped reduce complexity for customers and costs for paying wages. Easy jet changed air travel by their ‘no frills' policy, which cuts unnecessary costs such as travel agent costs, processing and printing tickets, instead they used internet booking which introduces further discounts.

Easy jet brought smaller companies in the markets such as 49% of TEA Basel AG, which they later named easy, jet Switzerland. And buys over ‘go-fly' airlines.

PEST-G

Political

European Union's commercial policy 1997 EUs deregulation of airlines Airports push on taxes Operating restrictions due to rotations and time

Environmental

Brand-new aircrafts being purchased, plus online bookings

Forth-largest economy held by the UK

Costs increase as oil prices increases

Social

September 11th reduced numbers of customers from using such services, which were substituted by ground transport, and for businesses teleconferencing.

Technology

Is fast developing in the airline industry which can result to be very costly, shared check in systems and self services gives opportunities to allow joint investments to step forward.

Geophysical

Cheap air travel is causing harm for the environment, as air travel creates more carbon dioxide then a car per passenger.

Expansion for Britain's airports or even building new airports is being discussed.

400million air travel passengers are expected to travel through Britain's airports by 2030.

Competition

Easy jet has high competitions with 1999 Swiss air which uses its political influence to prevent easy jet operating, in order to protect its route. Which has now been demolished as behaviours as this was made illegal within the European Union since 1993? The main competitor that easy jet has is Ryan air this airline is also a low-cost no frills airline that is as well established as easy jet. The rivalry stepped up a level when easy jet snatched the top performing airline award 2003 from Ryan air, which Ryan air had been wining for the previous 3years in a row. The debate still goes on, to which company is bigger, and as both easy jet and Ryan air brought smaller firms.

Although easy jet carries more passengers Ryan air is still worth 2.5times more then easy jet. As easy jet accounts for a third of all trips, Other competitors such as BMI baby, jet 2, and flybe account for one in ten trips. Easy jet is still known as the market leader.

5forces

Five Forces Model from Michael PorterMichael porter the founder of the 5forces model he describes this model, to show the advances, and relationships between the 5factors: potential entrants, suppliers, buyers, substitutes, and competitors. This model is a basic example of a 5force model; every individual company has a model to suit them best.

5forces

Consist of:

Competitors

Suppliers

Buyers

New entrants

Substitutes

Potential entrants

High barrier to entry because of high competition in the market

Rising fuel prices,

Buyers

Cheap deals on the Internet

Promotions

Customers choose the price, (price elasticity)

Substitutes

Ferries

Train

Euro tunnel

Cars

Suppliers

Airports

Management staff

Industry competitors

Low-cost carriers

Traditional carriers

Low-cost airlines

Sales and profits

Easy jet profits doubled to the year before which was 5.9million, although profits dropped at1.3million, analytically this was due to purchases of 15 of their very own Boeing 737 aircrafts. In 2000 air passenger duty was reduced, which accounted for the increase of profits and revenue, this also allowed a further discount on internet bookings; along with another order on 17more aircrafts being ordered. Easy jet paid a great influence on the government to reduce travel taxes even further as 12.98% of revenues gathered were profits. From year 02 profits kept plummeting as sales in 03 reached 932million, and the following years increasing by 10% in 04. The profit chart shows a positive correlation as revenues profits both increase.

Profits and Revenue:

Year to end September

Revenue (£m)

Profit before tax (£m)

2008

2,362.8

110.2

2009

2,666.8

54.7

Swot analysis

Strengths

Air travel is experiencing an increase on demand

Documantry /TV soap Airline gave easy jet the publicity it needed, become well established

The low cost airline has a great influence on the market

Easy jet eliminated all the extra costs involved, to make travel more affordable

Has a good safety record

Attracting a wider market as Europe's airline industry is deregulated

Travel prices are appealing and economical

Paperwork is minimal as most transactions are computerised

Easy jet aims a 30minute turnaround, which adds to the efficiency.

Economically friendly, reduction of paper work etc

Europe's leading low-cost airline

Repeatedly voted the best low cost airline

Awarded top performing airline

Weaknesses

Airports easy jet occupies are hard to access

Luggage space is limited

Air travel is an easy way for government to raise revenue

Customer services aren't a priority

Seats aren't located

Preferred timeslots are pre-booked, so most easy flights are off-peak

Lack of airspace, or airport capacity

Disturbances to air travel as extensive checks are carried out

Airlines stagnant- slow development

Too much competition with other low-cost airlines

Opportunities

Easy jet has been expanding continuously, by launching new routes, buying more aircrafts, making available more destinations.

Easy jet offers jobs and good career opportunities

New aircrafts are used to increase economy and to reduce pollution.

The take over of go-fly airline has reduced competition from one rival, it has also benefited the airline long term

Threats

Airport tax to compensate for the environment

Low-cost airlines may introduce lower fairs to more popular destinations

High competition from other low cost airlines, as a result of continuing liberalization of the European Union air transport market.

As easy jet it a smaller company compared to other competitors. Although easy jet has cut costs dramatically compared to its rivals, major threats such as marketing tactics being used on easy jet from a larger company could result into hardship.

Fuel prices have adverse effects on profits

High speed rail links may cut down on air travel

The company's marketing strategy

Segmentation

The entire market broken down in to segments, to help focus on every aspect of the market without looking past it; this enables easy jet to find their target customers. Easy jets core market is leisure and business too, as low fares are attractive to frequent travellers.

Targeting

Identification, evaluation, and selection. Targeting customers varies as easy jet offers a variety of destinations, and everyone has their own preferences. Main targets would be under 45years of age as people from around this age tend to travel for leisure.

Positioning

Creating and maintaining a place in the market to benefit themselves and their products. Easy jet achieves this by maintaining their ‘no-frills' policy and keeping travel fares low, by offering no free food, no paper tickets, limited luggage.

Growth

Developing more routes, branching out to more airports. Easy jet, along side its rival Ryan air could be placed at maturity stage, as both airlines are yet expanding.

Current Stage:

The marketing mix

As easy jet is a company where the customer chooses the price, targeting a specific audience is hard. The marketing mix consists of four basic stages for success. Which are also known as the four Ps (product price place and promotion?)

Product

Low-cost flights to various popular destinations, easy jet also offer other services such as easy jet hotels, which is appealing, as customers could put together their packages.

Price

As the customer chooses the price, after eradicating extra costs such as free food, extra luggage, no seating order, no processing tickets and paper work as most is done on computers. Making products more affordable doesn't necessarily mean the public would be attracted as some people associate high price with quality.

Place

With 289 routes to various places, and a continuous growth in destinations easy jet remains an attractive airline to turn to. With internet bookings, easy jet is available anywhere and everywhere.

Promotion

Promotion is making the product known to the public, in a positive manner that'd increase passenger numbers. Easy jets best tactic used was by having a documentary/ soap broadcasted on ITV. Easy jet also has a lot of ‘word of mouth' publicity. They have build customer loyalty through promotional techniques.

Passenger Statistics:

Full year

Annual total ('000)

1995

30

1996

420

1997

1,140

1998

1,880

1999

3,670

2000

5,996

2001

7,664

2002

11,400

2003

20,300

2004

24,300

2005

29,558

2006

32,953

2007

37,200

Evaluation

Current position

Easy jet is well established, with it's no frills policy, which is the reason for easy jets continuous success. Although easy jet relies on fewer profits they believe that till pay off long term, which in its current state seems to be working out well. Low cost airlines seem to be putting the major players out of business, as British airways is stepping back form 20european companies,

Evidence

Easy jet already hold one third of the market share. 95% of all seats are sold online, with 81% of all flights on time and 94% of flights that arrive within an hour; with such great punctuality, loyalty of customer's lye with easy jet.

Future prospects

The easy family has continuously tasted success; and wishes to one day take league in the market, this seems to be well on the way as their techniques to lure customers in never seems to tier itself out. As fuel prices are on a rise, easy jets profits will be further reduced as their tactic is to transport as many passengers as possible then bringing in profit, because they believe this'll be benefiting long term.

Conclusion

Looking deep into easy jets marketing sector it can be concluded that easy jet had brought a new trend in the airline industry that stiffens competition, with low cost flights. The market easy jet is categorized under is one of the most aggressive of its kind, as costs are cut dramatically, and profits are purposely reduced just too out do the competition. Easy jets clever use of marketing mix, economy friendly approach, and macro and micro environmental, held the upper hand in this competitive industry. Operations, management and pricing tactics, contributed to the expansion of this airline. Easy jet would have to become more alert as this industry is rapidly developing, the company would have to put to use strategies that would suite the era. Becoming more alert would help to stay ahead of competition, as Ryan air runs close lines alongside easy jet because both offer similar products and services.

Easy jet Launch Dates:
2009

15 January 2009

London Gatwick to Copenhagen

12 February 2009

Paris Charles de Gaulle to Barcelona

12 February 2009

Paris Charles de Gaulle to Bastia (Corsica)

31 March 2009

London Gatwick to Larnaca

1 April 2009

Berlin (Schoenefeld) to Cagliari

2 April 2009

East Midlands to Nice

2 April 2009

London Gatwick to Vienna

2 April 2009

London Gatwick to Munich

2 April 2009

London Gatwick to Zurich

2 April 2009

Newcastle to Malta

23 April 2009

London Gatwick to Bodrum

1 May 2009

London Gatwick to Dubrovnik

1 May 2009

London Gatwick to Naples

3 May 2009

London Gatwick to Santorini

4 May 2009

Manchester to Corfu

22 May 2009

Bristol to Corfu

24 May 2009

Bristol to Bastia (Corsica)

1 June 2009

Liverpool to Naples

2 June 2009

Liverpool to Dubrovnik

2 June 2009

Liverpool to Bordeaux

8 June 2009

Naples to Venice

8 June 2009

Rome Fiumicino to Venice

20 June 2009

Basel to Bordeaux

22 June 2009

Bilbao to Ibiza

27 June 2009

Lyon to Bastia (Corsica)

6 July 2009

Geneva to Dubrovnik

6 July 2009

London Luton to Menorca (Mahon)

6 July 2009

London Luton to Milan (Malpensa)

7 July 2009

London Luton to Montpellier

11 July 2009

Lyon to Pisa

11 July 2009

Paris Charles de Gaulle to Ajaccio (Corsica)

11 July 2009

Paris Orly to Faro

12 July 2009

Berlin (Schoenefeld) to Dubrovnik

12 July 2009

Paris Orly to Dubrovnik

12 July 2009

Lyon to Ibiza

13 July 2009

Lyon to Olbia (Sardinia)

25 July 2009

Milan Malpensa to Rhodes

26 July 2009

Milan Malpensa to Crete (Heraklion)

1 August 2009

Manchester to Athens

1 August 2009

Milan Malpensa to Split

2 August 2009

Milan Malpensa to Dubrovnik

6 August 2009

Manchester to Dalaman

9 August 2009

Manchester to Bastia (Corsica)
2008

8 January 2008

Liverpool to Innsbruck

30 January 2008

London Gatwick to Thessaloniki

1 February 2008

Madrid to Tangier

7 February 2008

East Midlands to Palma (Majorca)

7 February 2008

Paris (Charles de Gaulle) to Biarritz

8 February 2008

Paris (Charles de Gaulle) to Porto

15 February 2008

Paris (Charles de Gaulle) to Krakow

15 February 2008

Paris (Charles de Gaulle) to Venice

15 February 2008

Paris (Charles de Gaulle) to Marrakech

5 March 2008

Paris (Charles de Gaulle) to Hamburg

20 March 2008

London Luton to Jersey

20 March 2008

London Luton to Pisa

30 March 2008

London Gatwick to Cyprus (Paphos)

30 March 2008

London Gatwick to Gibraltar

30 March 2008

London Gatwick to Lanzarote (Arrecife)

30 March 2008

London Gatwick to Malta

30 March 2008

London Gatwick to Tenerife (South)

30 March 2008

Manchester to Cyprus (Paphos)

30 March 2008

Manchester to Innsbruck

31 March 2008

Geneva to Nantes

31 March 2008

Liverpool to Jersey

31 March 2008

London Gatwick to Madeira (Funchal)

31 March 2008

London Gatwick to Crete (Heraklion)

31 March 2008

London Gatwick to Corfu

31 March 2008

London Gatwick to Dalaman

31 March 2008

London Gatwick to Gran Canaria (Las Palmas)

31 March 2008

Manchester to Malta

1 April 2008

Berlin (Schoenefeld) to Thessaloniki

1 April 2008

London Gatwick to Sharm El Sheikh

1 April 2008

Manchester to Tenerife (South)

2 April 2008

London Gatwick to Rhodes

4 April 2008

London Gatwick to Hurghada

4 April 2008

Lyon to Bordeaux

4 April 2008

Lyon to Lisbon

4 April 2008

Lyon to Venice

5 April 2008

Lyon to Porto

21 April 2008

Geneva to Naples

22 April 2008

Geneva to Asturias

22 April 2008

Glasgow to Faro

23 April 2008

Bristol to Biarritz

24 April 2008

Edinburgh to Nice

26 April 2008

Bristol to Olbia (Sardinia)

26 April 2008

Bristol to Split

1 May 2008

London Gatwick to Mykonos

1 May 2008

Manchester to Malaga

2 May 2008

Lyon to Toulouse

2 May 2008

Lyon to Casablanca

2 May 2008

London Gatwick to Montpellier

2 May 2008

Manchester to Crete (Heraklion)

3 May 2008

Lyon to Marrakech

4 May 2008

London Gatwick to Ajaccio (Corsica)

4 May 2008

London Gatwick to Bastia (Corsica)

17 May 2008

Newcastle to Murcia

21 May 2008

London Gatwick to Nantes

7 June 2008

Lyon to Biarritz

9 June 2008

Milan (Malpensa) to Brussels

10 June 2008

Milan (Malpensa) to Mykonos

20 June 2008

Milan (Malpensa) to Majorca (Palma)

24 June 2008

Berlin (Schoenefeld) to Ibiza

25 June 2008

Berlin (Schoenefeld) to Crete (Heraklion)

28 June 2008

Geneva to Split

29 June 2008

Geneva to Ajaccio (Corsica)

2 July 2008

Basel to Cagliari (Sardinia)

4 July 2008

London Gatwick to Biarritz

12 July 2008

Paris (Charles de Gaulle) to Ibiza

29 September 2008

Manchester to Alicante

1 October 2008

Milan Malpensa to Copenhagen

1 October 2008

Milan Malpensa to Brindisi

2 October 2008

Milan Malpensa to Sofia

3 October 2008

London Gatwick to Lyon

13 October 2008

Milan Malpensa to Lamezia Terme

27 October 2008

Lisbon to Funchal

27 October 2008

Madrid to Sofia

27 October 2008

Geneva to Stockholm

27 October 2008

London Gatwick to Basel

27 October 2008

Paris Charles de Gaulle to Casablanca

28 October 2008

Paris Charles de Gaulle to Tangier

3 November 2008

London Gatwick to Helsinki

3 November 2008

Milan Malpensa to Rome Fiumicino

17 November 2008

Paris Orly to Budapest

5 December 2008

Rome Fiumicino to Bari

5 December 2008

Rome Fiumicino to Palermo (Sicily)

11 December 2008

Manchester to Sofia

12 December 2008

Manchester to Geneva

12 December 2008

London Gatwick to Istanbul

13 December 2008

London Gatwick to Salzburg
2007

15 February 2007

Madrid to Asturias

15 February 2007

Madrid to La Coruña

16 February 2007

Madrid to Lyon

16 February 2007

Lyon to Rome (Ciampino)

22 February 2007

Madrid to Casablanca

22 February 2007

Madrid to Marrakech

23 February 2007

Madrid to Rome (Ciampino)

25 February 2007

Madrid to Toulouse

25 February 2007

Madrid to Edinburgh

30 March 2007

Newcastle to Krakow

31 March 2007

Bristol to Bordeaux

3 April 2007

London Gatwick to Pisa

4 April 2007

Edinburgh to Munich

23 April 2007

Bristol to Milan (Malpensa)

24 April 2007

Belfast to Krakow

4 May 2007

Paris (Orly) to Athens

5 May 2007

Edinburgh to Palma (Majorca)

5 May 2007

London Luton to Ibiza

11 May 2007

Berlin (Schoenefeld) to Venice

11 May 2007

Berlin (Schoenefeld) to Lisbon

21 May 2007

Milan (Malpensa) to Edinburgh

30 May 2007

Dortmund to Edinburgh

31 May 2007

Dortmund to Thessaloniki

16 June 2007

Glasgow to Ibiza

18 June 2007

London Gatwick to Palermo (Sicily)

29 June 2007

Basel to Olbia (Sardinia)

29 June 2007

Geneva to Bordeaux

29 June 2007

Geneva to Brussels

29 June 2007

Geneva to Cagliari

29 June 2007

Geneva to Porto

7 July 2007

Belfast to Ibiza

13 July 2007

Milan (Malpensa) to Catania

14 July 2007

Bristol to Ibiza

14 July 2007

Newcastle to Mahon (Menorca)

16 July 2007

London Gatwick to La Rochelle

10 September 2007

Edinburgh to Paris (Charles de Gaulle)

10 September 2007

Milan (Malpensa) to Bucharest

18 September 2007

London Luton to Zurich

1 October 2007

London Gatwick to Gdansk

1 October 2007

London Gatwick to Lisbon

1 October 2007

Milan (Malpensa) to Bari

2 October 2007

Bristol to Warsaw

5 October 2007

London Gatwick to Krakow

8 October 2007

Milan (Malpensa) to Barcelona

28 October 2007

Madrid to Palma (Majorca)

29 October 2007

Brussels to Berlin (Schoenefeld)

29 October 2007

London Gatwick to Bucharest

29 October 2007

London Luton to Vienna

29 October 2007

London Stansted to Funchal (Madeira)

29 October 2007

Bristol to Funchal (Madeira)

29 October 2007

Edinburgh to Krakow

29 October 2007

Glasgow to Paris (Charles de Gaulle)

29 October 2007

Lyon to Barcelona

29 October 2007

Lyon to Berlin (Schoenefeld)

29 October 2007

Madrid to Bucharest

29 October 2007

Milan (Malpensa) to Cagliari (Sardinia)

30 October 2007

Basel to Marrakech

30 October 2007

Basel to Porto

30 October 2007

Belfast to Gdansk

30 October 2007

Bristol to Gdansk

30 October 2007

Edinburgh to Gdansk

30 October 2007

Geneva to Marrakech

30 October 2007

Bournemouth to Krakow

31 October 2007

Bristol to Lisbon

31 October 2007

Geneva to Las Palmas (Gran Canaria)

31 October 2007

Milan (Malpensa) to Olbia (Sardinia)

1 November 2007

Belfast to Prague

1 November 2007

Belfast to Venice

1 November 2007

Madrid to Arrecife (Lanzarote)

1 November 2007

Madrid to Lisbon

1 November 2007

Madrid to Paris (Charles de Gaulle)

2 November 2007

Liverpool to Lisbon

3 November 2007

Belfast to Barcelona

3 November 2007

Madrid to Fuerteventura

5 November 2007

London Luton to Hamburg

5 November 2007

Nice to Brussels

6 November 2007

London Gatwick to Sofia

6 November 2007

Milan (Malpensa) to Marrakech

7 December 2007

East Midlands to Barcelona

13 December 2007

Bournemouth to Grenoble

14 December 2007

Birmingham to Geneva

14 December 2007

Bristol to Innsbruck

14 December 2007

London Gatwick to Innsbruck

22 December 2007

Birmingham to Grenoble
2006

1 March 2006

London Luton to Lisbon

1 March 2006

Paris (Charles de Gaulle) to Lisbon

10 March 2006

Basel to Amsterdam

10 March 2006

Basel to Lisbon

10 March 2006

Basel to Prague

10 March 2006

Milan Malpensa to Athens

10 March 2006

Milan Malpensa to Malaga

10 March 2006

Milan Malpensa to Paris CDG

26 March 2006

Berlin (Schoenefeld) to Malaga

27 March 2006

Milan Malpensa to Madrid

27 March 2006

Milan Malpensa to Naples

31 March 2006

Dortmund to Malaga

3 April 2006

Paris (Orly) to Rome (Ciampino)

10 April 2006

Liverpool to Krakow

11 April 2006

Liverpool to Faro

11 April 2006

Liverpool to Marseille

21 April 2006

Milan Malpensa to Palermo

21 April 2006

Milan Malpensa to Lisbon

21 April 2006

Milan Malpensa to Olbia (Sardinia)

25 April 2006

Geneva to Palma (Majorca)

29 April 2006

Geneva to Ibiza

2 May 2006

London Gatwick to Split

3 May 2006

Glasgow to Berlin (Schoenefeld)

20 May 2006

Milan Malpensa to Ibiza

20 May 2006

Edinburgh to Alicante

20 May 2006

Glasgow to Palma (Majorca)

29 May 2006

Basel to Istanbul

29 June 2006

London Luton to Bordeaux

29 June 2006

London Luton to Istanbul

29 June 2006

London Luton to Rimini

30 June 2006

London Luton to Rijeka

4 July 2006

London Gatwick to Marrakech

7 July 2006

Glasgow to Alicante

7 July 2006

Glasgow to Malaga

15 July 2006

Nottingham East Midlands to Ibiza

21 July 2006

Bristol to Krakow

21 July 2006

Bristol to La Rochelle

21 July 2006

Bristol to Toulouse

22 July 2006

Bristol to Marseille

22 July 2006

Bristol to Rijeka

22 July 2006

Geneva to Olbia (Sardinia)

22 July 2006

Liverpool to Mahon (Menorca)

2 October 2006

London Gatwick to Glasgow

29 October 2006

Geneva to Prague

30 October 2006

Basel to Munich

30 October 2006

Bristol to Paris CDG

1 December 2006

Geneva to Hamburg
2005

5 January 2005

London Stansted to Grenoble

28 January 2005

London Gatwick to Cork

28 January 2005

London Gatwick to Knock

28 January 2005

London Gatwick to Shannon

11 February 2005

London Gatwick to Almeria

1 March 2005

London Gatwick to Valencia

24 March 2005

London Stansted to Asturias

27 March 2005

Berlin to Valencia

30 March 2005

Paris Orly to Pisa

30 March 2005

Paris Orly to Turin

8 April 2005

Berlin to Olbia (Sardinia)

8 april 2005

Berlin to Pisa

13 April 2005

Berlin (Schoenefeld) to Maastricht

20 April 2005

London Luton to Grenoble

21 April 2005

London Luton to Cagliari (Sardinia)

24 May 2005

London Gatwick to Olbia (Sardinia)

17 June 2005

Basel to Alicante

17 June 2005

Basel to Barcelona

17 June 2005

Basel to Nice

24 June 2005

Basel to Majorca (Palma)

24 June 2005

Basel to Naples

24 June 2005

Basel to and Rome (Ciampino)

1 July 2005

Belfast to Inverness

1 July 2005

Belfast to Geneva

1 July 2005

Belfast to Rome (Ciampino)

2 July 2005

Belfast to Berlin (Schoenefeld)

2 July 2005

Belfast to Majorca (Palma)

7 July 2005

Bristol to Inverness

7 July 2005

Bristol to Murcia

7 July 2005

Bristol to Pisa

16 July 2005

Belfast to Faro

21 July 2005

London Gatwick to Menorca (Mahon)

23 July 2005

Bristol to Menorca (Mahon)

23 July 2005

Newcastle to Ibiza

24 July 2005

Liverpool to Ibiza

10 August 2005

Basel to Malaga

11 August 2005

Basel to Hamburg

11 August 2005

Basel to Madrid

21 September 2005

Berlin (Schoenefeld) to Milan (Malpensa)

21 September 2005

Berlin (Schoenefeld) to Rome (Ciampino)

23 September 2005

London Gatwick to Murcia

26 September 2005

London Gatwick to Berlin (Schoenefeld)

30 October 2005

Dortmund to Barcelona

30 October 2005

Dortmund to Milan (Malpensa)

30 October 2005

Geneva to Lisbon

31 October 2005

Basel to Paris CDG

31 October 2005

London Luton to Bremen

1 November 2005

Geneva to Malaga

1 November 2005

Newcastle to Faro

1 December 2005

Bristol to Hamburg

1 December 2005

Milan Malpensa to London Gatwick

15 December 2005

Bristol to Grenoble

15 December 2005

Bournemouth to Geneva

15 December 2005

Doncaster/Sheffield to Geneva

15 December 2005

Edinburgh to Geneva

15 December 2005

London Stansted to Geneva

15 December 2005

Dortmund to Geneva

16 December 2005

London Gatwick to Grenoble

17 December 2005

Glasgow to Geneva
2004

28 March 2004

London Stansted to Basel

28 March 2004

Liverpool to Basel

15 April 2004

Newcastle to Majorca (Palma)

15 April 2004

Newcastle to Nice

23 April 2004

London Gatwick to Faro

23 April 2004

London Gatwick to Naples

23 April 2004

London Gatwick to Prague

28 April 2004

Berlin to London Luton

28 April 2004

London Stansted to Ljubljana

28 April 2004

Berlin to Liverpool

1 May 2004

London Luton to Budapest

1 May 2004

Berlin to Newcastle

6 May 2004

Berlin to Paris (Orly)

6 May 2004

Paris (Orly) to Naples

13 May 2004

Berlin to Athens

13 May 2004

Berlin to Copenhagen

13 May 2004

Berlin to Nice

20 May 2004

Berlin to Basel

20 May 2004

Berlin to Bristol

20 May 2004

Berlin to Palma (Majorca)

3 June 2004

London Gatwick to Ibiza

9 June 2004

Berlin to Barcelona

9 June 2004

Nottingham East Midlands to Cologne/Bonn

9 June 2004

Nottingham East Midlands to Rome

15 June 2004

Belfast to Malaga

15 June 2004

Belfast to Nice

15 June 2004

Belfast to Paris CDG

16 June 2004

Belfast to Alicante

17 June 2004

Berlin to Budapest

17 June 2004

Berlin to Naples

22 June 2004

Liverpool to Cologne

15 July 2004

Dortmund to Majorca (Palma)

15 July 2004

Dortmund to Paris CDG

15 July 2004

Dortmund to Rome

29 July 2004

Dortmund to Alicante

29 July 2004

Dortmund to Nice

1 September 2004

London Luton to Dortmund

1 September 2004

Dortmund to Budapest

1 September 2004

Dortmund to Prague

10 September 2004

Geneva to Madrid

27 September 2004

London Gatwick to Cologne

30 September 2004

London Gatwick to Budapest

13 October 2004

London Luton to Krakow

13 October 2004

London Luton to Turin

27 October 2004

Tallinn to Berlin

31 October 2004

Dortmund to Krakow

31 October 2004

Budapest to Bristol

31 October 2004

Budapest to Geneva

31 October 2004

Budapest to Newcastle

31 October 2004

Berlin to Krakow

31 October 2004

Berlin to Madrid

31 October 2004

Geneva to Alicante

31 October 2004

Geneva to Rome (Ciampino)

31 October 2004

London Gatwick to Rome (Ciampino)

31 October 2004

London Gatwick to Venice

31 October 2004

Bristol to Madrid

31 October 2004

Bristol to Rome (Ciampino)

31 October 2004

Newcastle to Rome (Ciampino)

31 October 2004

Paris Orly to Madrid

31 October 2004

London Stansted to Tallinn

1 November 2004

London Luton to Basel

1 November 2004

London Stansted to Tallinn

3 November 2004

London Luton to Warsaw

3 November 2004

Bristol to Valencia

11 November 2004

London Stansted to Almeria

25 November 2004

Berlin to Bratislava

25 November 2004

Berlin to Geneva

25 November 2004

Berlin to Ljubljana

25 November 2004

Berlin to Riga

8 December 2004

London Luton to Bratislava

15 December 2004

Bristol to Geneva

15 December 2004

Newcastle to Geneva
2003

7 January 2003

Liverpool to Alicante

3 February 2003

London Gatwick to Belfast

3 February 2003

London Gatwick to Inverness

30 March 2003

Newcastle to Alicante

30 March 2003

Newcastle to Barcelona

30 March 2003

Newcastle to Belfast

30 March 2003

London Luton to Alicante

15 April 2003

London Luton to Faro

1 May 2003

London Gatwick to Milan Linate

3 June 2003

Paris Orly to Nice

1 July 2003

Paris Orly to Toulouse

15 July 2003

Paris Orly to Barcelona

15 July 2003

Paris Orly to Marseilles

15 July 2003

Paris Orly to Milan Linate

1 August 2003

Newcastle to Bristol

1 August 2003

Newcastle to Paris CDG

1 August 2003

Newcastle to Prague

26 October 2003

London Stansted to Amsterdam

26 October 2003

London Gatwick to Bilbao

26 October 2003

London Gatwick to Marseilles

26 October 2003

London Gatwick to Toulouse

11 December 2003

Newcastle to Copenhagen

11 December 2003

Newcastle to Malaga

17 December 2003

Bristol to Amsterdam

17 December 2003

Bristol to Bilbao

17 December 2003

Bristol to Copenhagen
2002

1 February 2002

London Gatwick to Barcelona

12 February 2002

London Gatwick to Edinburgh

13 February 2002

London Gatwick to Zurich

14 February 2002

London Gatwick and Majorca (Palma)

14 February 2002

London Gatwick to Malaga

14 March 2002

East Midlands to Alicante

14 March 2002

East Midlands to Malaga

15 March 2002

East Midlands to Edinburgh

31 March 2002

Bristol to Prague

31 March 2002

East Midlands to Prague

2 May 2002

Paris CDG to Liverpool

10 May 2002

Paris Orly to Geneva

22 May 2002

East Midlands to Faro

12 June 2002

Paris CDG to London Luton

18 June 2002

Paris CDG to Nice

1 July 2002

London Gatwick to Athens

4 September 2002

London Gatwick to Alicante

4 September 2002

London Gatwick to Madrid

27 October 2002

East Midlands to Barcelona

27 October 2002

East Midlands to Geneva

27 October 2002

East Midlands to Venice

27 October 2002

Bristol to Venice
2001

5 January 2001

Amsterdam to Belfast

5 January 2001

Amsterdam to Edinburgh

5 January 2001

Amsterdam to Nice

5 April 2001

Amsterdam to London Gatwick

3 May 2001

London Stansted to Nice

22 May 2001

Bristol to Faro

22 May 2001

Bristol to Majorca (Palma)

22 May 2001

Bristol to Nice

23 May 2001

Bristol to Alicante

23 May 2001

Bristol to Malaga

15 July 2001

Bristol to Barcelona

15 July 2001

Bristol to Rome (Ciampino)

19 July 2001

London Gatwick to Nice

20 August 2001

Amsterdam to Barcelona

21 August 2001

Belfast to Glasgow

21 August 2001

Amsterdam to Glasgow

3 September 2001

Belfast to Edinburgh

18 September 2001

Bristol to Belfast

18 September 2001

Bristol to Edinburgh

18 September 2001

Bristol to Glasgow

1 November 2001

London Stansted to Newcastle
2000

26 March 2000

Liverpool to Majorca (Palma)

19 April 2000

London Stansted to Naples

11 September 2000

London Stansted to Milan

1 November 2000

London Stansted to Belfast

1 November 2000

London Stansted to Glasgow
1999

10 January 1999

Liverpool to Barcelona

10 January 1999

Liverpool to Geneva

28 March 1999

London Stansted to Faro

29 March 1999

London Stansted to Malaga

29 April 1999

London Stansted to Bilbao

1 July 1999

London Stansted to Madrid

14 July 1999

London Stansted to Ibiza

15 July 1999

Liverpool to Belfast

15 July 1999

Liverpool to Malaga

20 July 1999

London Stansted to Majorca (Palma)

28 July 1999

Geneva to Amsterdam

28 July 1999

Geneva to Barcelona

28 July 1999

Geneva to Nice

18 August 1999

London Stansted to Alicante

6 September 1999

Liverpool to Madrid

23 September 1999

London Stansted to Barcelona

23 September 1999

London Stansted to Prague

1 October 1999

London Luton to Liverpool

1 October 1999

London Luton to Malaga

15 December 1999

London Stansted to Lyon

16 December 1999

Geneva to London Gatwick

17 December 1999

Geneva to London Stansted
1998

19 May 1998

London Stansted to Rome (Ciampino)

5 June 1998

London Stansted to Copenhagen

1 July 1998

London Luton-Athens

8 September 1998

London Stansted to Bologna

8 September 1998

London Stansted to Edinburgh

10 September 1998

London Luton-Madrid

18 September 1998

London Luton-Belfast

1 November 1998

London Luton-Zurich

25 November 1998

London Stansted to Munich

8 December 1998

London Stansted to Venice
1997

27 October 1997

Liverpool-Amsterdam

1 November 1997

Liverpool-Nice

5 December 1997

London Luton-Majorca (Palma)

18 December 1997

London Luton-Geneva
1996

26 January 1996

London Luton-Aberdeen

24 April 1996

London Luton-Amsterdam

5 June 1996

London Luton-Nice

12 June 1996

London Luton-Barcelona

29 November 1996

London Luton-Inverness
1995

10 November 1995

London Luton-Glasgow

15 November 1995

London Luton-Edinburgh

Easyjet Fundamentals

Income Statements

2009(£m)

2008(£m)

2007(£m)

2006(£m)

Fiscal year end

30-Sep-09

30-Sep-08

30-Sep-07

30-Sep-06

Duration (months)

12

12

12

12

Accounting format

IFRS

IFRS

IFRS

IFRS

Operating Income

Group turnover & share of J.V.

2,666.80

2,362.80

1,797.20

1,619.70

Share of J.V sales

-

-

-

-

Group turnover

2,666.80

2,362.80

1,797.20

1,619.70

Gross profit

-

-

-

-

Other operating income

-

-

-

-

Net other gains

11.00

-

-

-

Total operating income

2,677.80

2,362.80

1,797.20

1,619.70

Operating Expenses (by function)

Cost of sales

-

-

-

-

Selling, marketing & distribution

-

-

-

-

Administrative expenses

-

-

-

-

Research & development

-

-

-

-

Depreciation (property, plant & equipment)

-55.40

-44.40

-33.30

-27.40

Amortisation of intangibles

-4.40

-2.50

-0.90

-0.80

Impairment of goodwill

-

-

-

-

One-off items (by function)

-

-12.90

-

-

Other operating costs (by function)

-2,617.70

-2,258.90

-1,625.20

-1,501.90

Total operating expenses (by function)

-2,617.70

-2,271.80

-1,625.20

-1,501.90

Operating Profit

Operating profit (as calculated)

60.10

91.00

172.00

117.80

Operating profit (as stated)

60.10

91.00

172.00

117.80

EBIT (as calculated)

60.10

91.00

172.00

117.80

Interest & other financial income

22.50

53.20

54.60

35.40

Interest & other financial expense

-27.90

-34.00

-35.40

-24.10

Net interest

-5.40

19.20

19.20

11.30

Share of profit from associates

-

0.00

0.10

0.10

One-off items (previously exceptionals)

-

-

10.60

-

Profit on ordinary activities before tax

54.70

110.20

201.90

129.20

Tax

16.50

-27.00

-49.60

-35.10

Profit on ordinary activities after tax

71.20

83.20

152.30

94.10

Profit attributable to minority interests

-

-

-

-

Profit attributable to equity shareholders

71.20

83.20

152.30

94.10

Ordinary dividends

0.00

0.00

0.00

0.00

Other dividends

-

-

-

-

Retained profit

71.20

83.20

152.30

94.10

EPS basic

16.90

19.80

36.62

23.18

EPS diluted

16.60

19.40

35.58

22.64

Dividend per share

0.00

0.00

0.00

0.00

Balance Sheet

2009(£m)

2008(£m)

2007(£m)

2006(£m)

Fiscal year end

30-Sep-09

30-Sep-08

30-Sep-07

30-Sep-06

Duration (months)

12

12

12

12

Accounting format

IFRS

IFRS

IFRS

IFRS

Non-Current Assets

Intangible assets

81.70

80.60

1.80

1.10

Goodwill

365.40

359.80

309.60

309.60

Total intangible assets

447.10

440.40

311.40

310.70

Property, plant and equipment

1,612.20

1,102.60

935.80

695.70

Retirement benefit assets

-

-

-

-

Deferred tax assets

0.40

0.50

0.40

0.30

Assets held for sale

-

-

-

-

Available-for-sale financial assets

-

-

-

-

Derivative financial assets

7.80

21.30

-

0.40

Financial assets held at fair value through P&L

-

-

-

-

Financial assets held to maturity

-

-

-

-

Trade and other receivables

-

-

-

-

Investments in JVs/associates

-

0.00

0.30

0.30

Other non-current asset investments

123.30

116.00

102.10

29.00

Total non-current assets

2,190.80

1,680.80

1,350.00

1,036.40

Current Assets

Inventories

-

-

-

-

Trade and other receivables

241.80

236.90

223.60

213.30

Cash and cash equivalents

1,099.20

885.80

928.40

872.90

Assets held for sale

73.20

195.80

-

-

Available-for-sale financial assets

-

-

-

-

Derivative financial assets

68.00

96.50

14.40

1.00

Financial assets held at fair value through P&L

-

-

-

-

Financial assets held to maturtiy

-

-

-

-

Available for sale assets

-

-

-

-

Other fair value assets

-

-

-

-

Other current assets

-

-

-

-

Total current assets

1,482.20

1,415.00

1,166.40

1,087.20

Total assets

3,673.00

3,095.80

2,516.40

2,123.60

Equity

Share capital

106.00

105.70

104.80

102.60

Share premium account

642.50

640.20

633.90

591.40

Revaluation reserve

-

-

-

-

Other reserves

-24.30

27.70

-13.70

-9.50

Retained earnings

583.10

504.60

427.40

298.40

Equity shareholders funds

1,307.30

1,278.20

1,152.40

982.90

Minority interests

-

-

-

-

Total equity

1,307.30

1,278.20

1,152.40

982.90

Non-Current Liabilities

Long term borrowings

-1,003.00

-570.20

-478.60

-446.90

Deferred tax liabilities

-76.70

-108.10

-35.00

-32.00

Derivative financial instruments

-2.60

-0.30

-6.30

-4.80

Financial liabilities held at fair value through P&L

-

-

-

-

Other financial instruments

-

-

-

-

Retirement benefit obligations

-

-

-

-

Other liabilities/provisions

-221.20

-229.20

-222.80

-148.00

Total non-current liabilities

-1,303.50

-907.80

-742.70

-631.70

Current Liabilities

Short term borrowings

-117.60

-56.70

-40.50

-32.80

Trade creditors

-750.70

-653.00

-461.70

-414.10

Current tax payables

-57.70

-75.10

-89.70

-46.80

Derivative financial instruments

-91.10

-76.00

-26.60

-15.30

Financial liabilities held at fair value through P&L

-

-

-

-

Other financial instruments

-

-

-

-

Other liabilities/provisions

-45.10

-49.00

-2.80

-

Total current liabilities

-1,062.20

-909.80

-621.30

-509.00

Net current assets

420.00

505.20

545.10

578.20

Total assets less current liabilities

2,610.80

2,186.00

1,895.10

1,614.60

Total liabilities

-3,673.00

-3,095.80

-2,516.40

-2,123.60

Pension surplus/deficit (including prepayment)

-

-

-

-

Pension surplus/deficit (excluding prepayment)

-

-

-

-

Cash Flow

2009(£m)

2008(£m)

2007(£m)

2006(£m)

Fiscal year end

30-Sep-09

30-Sep-08

30-Sep-07

30-Sep-06

Duration (months)

12

12

12

12

Accounting format

IFRS

IFRS

IFRS

IFRS

Cash Flows from Operating Activities

Cash generated from operations

164.50

292.30

260.80

221.60

Interest paid

-20.60

-32.40

-36.90

-24.40

Income tax paid

-9.40

-14.20

-2.00

-4.50

Other inflow/outflow from operating activities

-

-

-

-

Net cash generated from operating activities

134.50

245.70

221.90

192.70

Cash Flows from Investing Activities

Acquisition of subsidiary, net of cash acquired

-

-118.00

-

-

Disposal of subsidiary, net of cash acquired

-

-

-

-

Net acquisitions, & disposals, net of cash required

-

-118.00

-

-

Purchases of property, plant and equipment

-515.00

-324.00

-273.90

-408.30

Proceeds from sale of property, plant and equipment

12.40

0.50

3.30

87.40

Net cash from investments in property, plant & equipment

-502.60

-323.50

-270.60

-320.90

Purchases of intangible assets

-5.50

-6.40

-1.60

-0.50

Purchases of short term securities

-

-

-

-

Purchases of available for sale financial assets

-

-

-

-

Total purchases of investments

-

-

-

-

Proceeds from sale of available for sale financial assets

-

-

-

-

Proceeds from sale of investments in other companies

-

0.30

-

-

Total proceeds from sales of investments

-

0.30

-

7.10

Loans granted to related parties

-

-

-

-

Loan repayments received from related parties

0.30

-

-

-

Interest received

-

50.50

48.90

32.50

Dividends received

-

0.00

0.10

-

Other inflow/ outflow from investing activities

77.80

30.00

-

-

Net cash generated from investing activities

-430.00

-367.10

-223.20

-281.80

Cash Flows from Financing Activities

Proceeds from borrowings

543.10

40.20

103.20

309.80

Repayments of borrowings

-73.00

-45.70

-34.10

-31.40

Dividends paid to company's shareholders

-

-

-

-

Dividends paid to minority interests

-

-

-

-

Other inflow/ outflow from financing activities

-29.90

11.40

-198.00

6.10

Net cash generated from financing activities

440.20

5.90

-128.90

284.50

Cash Flows for the Year

Net increase in cash and bank overdrafts

144.70

-115.50

-130.20

195.40

Exchange gains and losses on cash and bank overdrafts

11.70

28.60

-11.40

-1.70

Net increase in cash for the year

156.40

-86.90

-141.60

193.70

Cash and bank overdrafts at beginning of period

632.20

719.10

860.70

667.00

Cash and bank overdrafts at end of period

788.60

632.20

719.10

860.70

Perfomance Ratios

2009

2008

2007

2006

Fiscal year end

30-Sep-09

30-Sep-08

30-Sep-07

30-Sep-06

Duration (months)

12

12

12

12

Market Capitalisation (£m)

1,611.21

1,331.50

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