plc
We’re turning
Europe orange
Annual report and accounts 2007
Overview
02 easyJet at a glance
04 Chairman’s statement
Business review
07 Business review
13 Financial review
23 Corporate and social
responsibility report
Corporate governance
36 Directors’ profiles
38 Executive management team
40 Directors’ report
43 Corporate governance
48 Report on Directors’ remuneration
56 Statement of Directors’ responsibilities
57 Independent Auditors’ Report
to the Members of easyJet plc
Financial statements
58 Consolidated income statement
59 Consolidated balance sheet
60 Consolidated statement of
cash flows
61 Consolidated statement of
recognised income and expense
62 Notes to the financial statements
85 Company balance sheet
86 Company statement of cash flows
87 Notes to the Company balance sheet
Other information
90 Summary of selected information
for five years
91 Glossary
92 Shareholder information
01 easyJet plc
Annual report and accounts 2007
At easyJet we are working towards
turning Europe orange, country by
country, city by city.
We aim to be the best low-fares
airline in the world, providing low cost
travel with care and convenience for
our passengers; resulting in superior
financial returns for our investors.
We strive to minimise our impact
on the environment with our modern
fleet and efficient working practices.
This year has brought us a step
closer to our objective.
02 easyJet plc
Annual report and accounts 2007
easyJet at a glance
At easyJet we remain focused on delivering
growth with margin improvement, underpinned
by our customer proposition of “low cost with
care and convenience”.
Financial highlights
Headline
figures
Profit drivers
Passenger revenue
per seat
03
04
05
06
07
36.38
£
35.74
36.15
38.28
36.57
Revenue
03
04
05
06
07
932
£m
1,091
1,341
1,620
1,797
Profit before tax*
03
04
05
06
07
52
£m
62
83
129
191
2007 excludes the effect of £10.6 million profit from the reversal of the
impairment of the Group’s investment in The Airline Group. *
Cash flow from operations
03
04
05
06
07
77
£m
161
221
222
261
Profit before tax
per seat*
03
04
05
06
07
2.13
£
2.16
2.38
3.32
4.30
2007 excludes the effect of £10.6 million profit from the reversal of the
impairment of the Group’s investment in The Airline Group.
*
+11% +48%
–5%
Cost excluding fuel
per seat
03
04
05
06
07
31.41
£
30.63
28.78
28.36
26.55
–6%
Ancillary revenue
per seat
03
04
05
06
07
2.14
£
2.14
2.51
3.38
3.85
+14%
+18% +30%
03 easyJet plc
Annual report and accounts 2007
Operational highlights
Resources 137
Aircraft in fleet
Airports
in network
Aberdeen
Alicante
Almeria
Amsterdam
Athens
Barcelona
Basel
Belfast
Berlin Schonefeld
Bilbao
Bordeaux
Bournemouth
Bremen
Bristol
Brussels
Bucharest
Budapest
Cagliari
Casablanca
Catania
Cologne
Copenhagen
Dortmund
East Midlands
Edinburgh
Faro
Geneva
Glasgow
Grenoble
Hamburg
Ibiza
Inverness
Istanbul
Krakow
La Coruna
La Rochelle
Lisbon
Liverpool
Ljubljana
London Gatwick
London Luton
London Stansted
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