22-Feb-2010 1:46 PM

easyJet on track to meet analysts’ forecasts of GBP170 milion profit for FY2010

easyJet CEO, Andy Harrison, stated the carrier is on track to meet analysts’ forecasts of a GBP170 million profit for FY2010, after a strong start to the year, but the LCC expects demand to remain subdued (Reuters, 19-Feb-2010). Mr Harrison meanwhile stated the carrier’s payment of GBP1.2 million to him last year to prevent his departure from the carrier was made in the "best interest of shareholders" (Bloomberg, 19-Feb-2010).

easyJet: “Yields will be up in the first-half and 2010 has been good for us so far. But airlines are likely to see subdued demand in 2010 and I don't see a macro economic recovery taking place in 2010…There is a high level of sensitivity about executive pay in all companies and industries and it’s quite right for shareholders to look very carefully at what’s going on. It was decided not by me but by the remuneration committee. They thought it was in the best interests of shareholders and the best commercial decision,” Andy Harrison, CEO. Source: Reuters/Bloomberg, 19-Feb-2010.

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