EasyJet is a low-cost British airline founded in 1995 by Sir Stelios Haji-Ioannou. It operates flights to over 150 destinations in 30 countries, making it one of the largest low-cost carriers in Europe. In 2010, EasyJet released its annual report, which provided a summary of the company's financial performance and operations for the year.
One of the key highlights of the 2010 annual report was the company's financial performance. EasyJet reported a profit before tax of £158 million, which was a significant increase from the previous year's profit of £47 million. This was due to a combination of factors, including strong demand for air travel, cost-cutting measures, and a focus on improving operational efficiency.
In terms of revenue, EasyJet reported a total of £3.9 billion for the year, which was an increase of 9.7% from the previous year. The company's strong financial performance was also reflected in its share price, which increased by 24% over the course of the year.
In terms of operations, EasyJet continued to expand its route network and fleet during 2010. The company added several new destinations to its route network, including Istanbul, Marseille, and Split, and also introduced new aircraft to its fleet, including Airbus A320s and A319s. This expansion allowed EasyJet to increase its capacity and reach new markets, helping to drive its strong financial performance.
EasyJet also made a number of strategic investments during 2010, including the acquisition of a 25% stake in Swiss airline Darwin Airline. This acquisition was part of EasyJet's ongoing strategy to diversify its operations and expand into new markets.
Overall, the 2010 annual report demonstrated that EasyJet was in a strong financial position, with solid profits and revenue growth. The company's expansion into new markets and strategic investments positioned it well for future growth, and its focus on cost-cutting and operational efficiency helped to drive its strong financial performance.