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EasyJet To Expand Fleet As Profit Doubles 14.11.2006
Low-cost airline easyJet posted a 56 percent jump in annual profits on Tuesday and said it would expand its fleet with more Airbus planes as strong demand offsets high fuel costs.

EasyJet converted options on 52 A319 aircraft into orders and took options over a further 75 A320s, bringing the value of planes it has on firm order to more than USD$4 billion.

The budget carrier, Europe's second-largest after Ryanair, said pretax profit for the year to end-September 2006 was GBP129 million pounds (USD$245.6 million), up from GBP83 million (USD$158 million) a year ago.

"Our profit growth was driven by a 34 percent increase in ancillary revenues per seat, significant improvements in passenger yields and a continuing reduction in our non-fuel unit costs," Chief Executive Andy Harrison said in a statement.

"Today's Airbus order underpins our future growth and we expect to increase capacity in 2007 by 15 percent."

EasyJet said on October 6 it expected pretax profit for the year ending September to be slightly ahead of earlier guidance for a 40-50 percent rise.

A strong summer and new routes helped offset a 33 percent rise in unit fuel costs for the year and the cancellation of 469 flights in August because of heightened security, imposed after British police said they foiled a plot to bomb airliners.

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