UK discount airline EasyJet reported full year results for the period ended 30 September. Passenger numbers were up 79%, and revenue was up 69%. Costs per available seat mile flown dropped 7.5%, and the average fare was a mere £43.28 ($73.50). Pre-tax trading profit was up 7% to £96 million.
And its arch-rival, Ryanair, has just finished an offer that is surely hard to beat. They were not only giving away free tickets, but were also contributing £1 towards the cost of the taxes on the free tickets. This makes Ryanair the first airline to ever pay passengers to travel. Ryanair said that they had allocated 40% of their total seats during the period 20 Nov - 20 Dec to be given away on this promotion.
Amazingly, Ryanair is also a profitable airline. Let's hope that the US carriers choose to copy this promotion!
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