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EasyjetEasyjet sees profits drop by 50%


Budget airline Easyjet has reported a big fall in full-year profits to the end of September, after the rising price of oil pushed up fuel costs.

Pre-tax profits were £54.7m ($92.2m), half of the £110.2m the airline made a year earlier.

This came despite a 13% rise in sales from £2.36bn a year ago to £2.67bn.

Easyjet said the results were "extremely resilient", adding it was one of the "very few" European airlines to make a profit in the past 12 months.

It was helped by a capacity reduction of about 6% among its main competitors, and increased market share in "valuable" markets such Paris, London Gatwick, Milan and Madrid.

Passenger numbers rose by 3.4% to 45.2 million.

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