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Improved frequency
on 58 routes and
19 routes culled
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Customer satisfaction
92% of our passengers
would recommend other
people to fly with easyJet
easyJet.com
Average of 12 million unique
users every month
Total of 246 million
hits in the year ended
30 September 2007
Voted the UK’s favourite
travel website by Hitwise
U For more information visit:
www.easyJet.com
Nice
Olbia
Oviedo/Asturias
Palermo
Palma
Paris Charles de Gaulle
Paris Orly
Pisa
Porto
Prague
Riga
Rijeka
Rimini
Rome Ciampino
Split
Tallin
Thessaloniki
Toulouse
Turin
Valencia
Venice
Warsaw
Zurich
04 easyJet plc
Annual report and accounts 2007
Chairman’s statement
Investors can be assured that our focus will
stay firmly on enhancing revenue and on the
efficient management of the cost base, in order
to continue to improve shareholder value.
13.6%
2006: 10.1%
+3.5 pp
34.8p
2006: 23.2p
+50%
20.4%
2006: 31.0%p
–10.6 pp
03
4.4%
04
5.3%
05
7.1%
06
10.1%
07
13.6%
2007 excludes the effect of £10.6 million profit from
the reversal of the impairment of the Group’s
investment in The Airline Group.
Earnings
per share
Gearing
Return on
equity
03
8.2p
04
10.3p
05
14.8p
06
23.2p
07
34.8p
Basic earnings per share except for 2007 which excludes
the effect of £10.6 million profit from the reversal
of the impairment of the Group’s investment in
The Airline Group.
03
30.8%
04
27.0%
05
32.5%
06
31.0%
07
20.4%
05 easyJet plc
Annual report and accounts 2007
Profitable growth and improved
shareholder return
We are proud to report on another great year
at easyJet. Our performance has been excellent and
it is very pleasing to announce a 48.1% increase in
underlying pre tax profits, especially coming on top
of an increase of 56.4% in the prior year.
During the year we experienced some significant
challenges; not least continued higher fuel prices and
in February, the unexpected doubling of Air Passenger
Duty (“APD”) in the UK. However our business
model, based on low cost with care and convenience,
continues to prove as successful in continental Europe
as it has been in the UK.
The Board set return on equity as its key financial
measure and this year our shareholders have benefited
from an underlying improvement of 3.5 percentage
points to 13.6%, with underlying earnings per share
increasing 50.1% to 34.8 pence.
The environment
We fully recognise the importance of environmental
issues in the context of the value for money services
we provide to our customers. We have taken and
will continue to take responsible actions such as
continuing to operate one of the youngest and most
environmentally efficient fleets of aircraft in Europe.
Our investment in modern aircraft continues with the
confirmation of further orders for 87 new Airbus A319
aircraft announced during the year.
Looking to the longer term, we are active participants,
with both Boeing and Airbus, in the teams developing
the next generation of environmentally efficient aircraft.
easyJet continues to support the inclusion of aviation
in the EU Emissions Trading Scheme. We have
consistently and coherently argued for the abolition
of APD, and its replacement by a method of taxation
which is sensibly related to emissions not passengers.
The recognition of our case by all three of the main
political parties in the UK, and in particular by the
Chancellor in his pre-budget report, is most welcome.
In addition we are encouraging our passengers to
contribute to the mitigation of climate change through
our carbon offsetting programme which provides for
credits only in projects certified by the United Nations.
People
Our people are a major asset to the Company and
enabling them to work in a modern and efficient
environment was the objective of the move from
our original home at easyLand to Hangar 89 at London
Luton Airport. Staff and visitors alike have praised the
much improved working conditions of this facility.
　
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