To read the easyJet interim management statement for the quarter ended 31 December 2010... click HERE

-------------------------

easyJet's shares hit hard on warning loss could double
Source: The Guardian, 20 January 2011

Higher fuel prices and lower takings from baggage fees hurt budget airline

Rising fuel prices and airline passengers' apparent frustration with baggage check-in fees hammered easyJet's shares this morning as the budget carrier warned that first-half losses could double.

easyJet stock tumbled 12% to 400p after it warned of weak sales due to poor takings from add-on charges, fragile demand in continental Europe and higher-than-expected losses from snow disruption and air traffic control strikes. Announcing a £31m loss from the December freeze and union walkouts in France and Spain, easyJet said first-half losses in the six months to March would range from £140m to £160m, compared with £78.7m for the previous year.

Read the article in full

-------------------------

Bad weather and strikes cost easyJet £24m
Source: Financial Times, 20 January 2011

easyJet's chief executive has called for improved regulation of airports and air traffic control services after it revealed pre-Christmas severe weather cost the no-frills airline £18m in the fourth quarter and air traffic control strikes added a further £6m.

On top of the direct costs, the disruption cost easyJet, Europe's second-biggest budget airline by passenger numbers, a further £7m in lost revenue and it now expected pre-tax losses of £140m to £160m for the first half, against £78.7m in 2010. French air traffic controllers held several strikes during the quarter, while Spanish controllers staged a wild-cat walk out.

Read the article in full

-------------------------

Ex-easyJet boss' £2.5m in 6 months
Source: Daily Mail, 20 January 2011

Former easyJet boss Andy Harrison earned £2.5m in the six months before he left the no-frills airline last year, company accounts have revealed.

Harrison – whose departure was sullied by criticism from airline founder Stelios Haji-Ioannou – picked up £1.2m just for leaving without serving a notice period.

The accounts also reveal that easyJet directors, including chief executive Carolyn McCall, waived their 2010 bonuses after a year in which the carrier suffered with crew shortages and punctuality problems.

-------------------------

Bet of the day - In the know: support for easyJet
Source: The Times, 20 January 2011

Spread-betters were buying easyJet's share price of 454p ahead of a trading update tomorrow. They backed the no-frills airline, flying from Luton and Gatwick, believing it to have escaped relatively unscathed from the snow disruptions that brought Heathrow to a standstill in December. Spread Co offers a price on easyJet of 454.7p-455.8p.

Read the article in full

-------------------------

easyJet is a poor omen for airline results
Source: Breakingviews.com, 20 January 2011

Travel disruption, lower non-ticket revenue and high fuel prices trashed full-year profit estimates for the UK low-cost carrier. Rivals face similar pressures, and EasyJet could make a comeback. But investors are unlikely to give its rookie management much benefit of the doubt.

Read the article in full

-------------------------

easyJet shares sink as it warns of widening losses
Source: BBC, 20 January 2011

Shares in easyJet have slumped more than 16% after the budget airline warned that higher fuel costs could double half-year losses.

Read the article in full