easyJet swings to half-year loss as security fears hit travel

[LONDON] British low-cost carrier easyJet swung to a half-year loss due to a fall in travel demand on security concerns linked to attacks on European capitals, flight cancellations in Egypt and air traffic control strikes in France.

For the full-year easyJet said it remained on track to meet market expectations despite posting a pretax loss of 24 million pounds (S$47.45 million) in the six months to March 31, which compared to the 7 million pounds of profit it made last year.

In what it said was a show of its confidence in future profit growth, easyJet said it would increase its dividend payout ratio by a quarter to 50 per cent of post-tax income, subject to approval at its annual meeting.

REUTERS