Quarterly time also for airlines. Today they published the accounts of the airline of the Gulf, Emirates, and the British low cost easyjet, with opposite performances: the first saw a significant increase in passengers and profits (also favored by the drop in fuel costs), while the second returned to the red after the profits recorded in the same quarter last year.
Emirates achieved in the 2015-2016 financial year ended March a net income of $1,9 billion, up 56%, thanks precisely to the increase in passengers and the drop in fuel costs. Revenue decreased 4% to $23,2 billion as the dollar appreciated against most currencies. Travelers transported were 51,9 million in the year ended in March, with an increase of 8% compared to the previous year.
The British company Easyjet, on the other hand, closed the six-month period of its 2015-2016 fiscal year in the red 20 million pounds after tax (approximately €25m), which compares with a profit of £5m in the same quarter last year. The loss is attributed in a note to the attacks in Egypt, Paris and Brussels as well as an unfavorable exchange rate effect. Easyjet is confident on a recovery in the number of passengers, revenues and tailings in the remaining months of the year. The founder and first shareholder, Stelios Haji-Ioannou, recently called for the company to increase its dividend.
Carolyn McCall, CEO of the low-cost airline, in commenting on the results notes how "demand was strong with the traffic from the UK to seaside destinations which led to an excellent start to the year”. Furthermore, “careful cost control has helped the company maintain margins”. McCall added the hope that during the fiscal year Easyjet will be able to increase passengers, revenues and profits. "As a consequence of the financial strength of the board's confidence in the future successes of EasyJet's strategy, the share of the dividend payout, subject to approval by the shareholders' meeting, will increase to 50%".
