Easyjet Losses Treble Following Fuel Price Rises

Easyjet has announced first half pre-tax losses of £57 million, which is a dramatic three-fold increase on last year's figures.

However, the Luton Airport based airline has responded positively, saying that it believes the underlying business model is strong, and senior staff are confident the airline will be able to get through this difficult period. The airline traditionally makes most of its money in the second half of the year, so we will have to wait until the end of the year to see a clearer picture of the position of the company.

Easyjet's chief executive, Andy Harrison, suggested that some of the smaller European low cost carriers would downsize or disappear altogether under the strain of continued fuel price rises.