EasyJet Posts H1 Profit

EASYJET PLC ESYJY posted a profit in the six months ended March 31. EasyJet swung to a net profit of GBP5 million ($7.8 million), versus a year-ago loss of GBP41 million. Its revenue gained 3.8 percent to GBP1.8 billion. The airline posted a pretax profit of GBP7 million, versus a pretax loss of GBP53 million. Its total revenue per seat gained 0.2 percent to £54.91, while costs per seat slipped 1.4 percent to £38.66. "The profit in the half reflects the delivery of our customer focused revenue initiatives and a strong finish to the ski season as well as the benefit we received from the lower fuel price and favourable foreign exchange movements," said Easyjet Chief Executive Carolyn McCall.