Easyjet losses more than double

Easyjet said passenger numbers increased by 2.9%

Budget airline Easyjet has seen its half-yearly losses more than double, but has said it expects to be profitable for the full financial year.

The carrier reported a pre-tax loss of £129.8m for the six months to 31 March, compared with a £48.4m loss a year ago.

Easyjet said the loss had been driven by an increase in fuel costs and the fact that Easter fell later this year.

But boss Andy Harrison said at current fuel prices and exchange rates Easyjet would make a profit over the year.

"Easyjet is financially strong," he said, insisting it "has good and well-established market positions".

"The board remains confident in Easyjet's future prospects," he said.

Easyjet said the fuel cost increase of £3.87 per seat cost it a total of £90.6m over the six months.

It added that passenger numbers increased 2.9% to 19.4 million.