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EasyJet traffic soars
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December 7, 2001: 4:48 a.m. ET
Europe's No. 2 no-frills airline wins passenger from national carriers
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LONDON (CNN) - EasyJet, Europe's No.2 discount airline, said passenger traffic rose in November as it won more passengers from struggling national carriers.
EasyJet and bigger rival Ryanair have slashed ticket prices since the September 11 terror attacks to help attract business. Ryanair went one step further and is now giving away 300,000 tickets.
But national long-haul carriers, like British Airways, have seen passenger numbers fall by about a third on some routes. BA earlier this week announced its 10th consecutive fall in monthly passenger numbers.
EasyJet, chaired by high-profile entrepreneur Stelios Haji-Ioannou, said its passenger count rose to 690,928, up from 498,796 a year earlier. It carried about 716,000 passengers in October.
Its load factor, or proportion of seats filled, rose to 85.2 percent from 80 percent and carried 7.5 million passengers in the last 12 months. Over the month it managed to sell more than 90 percent of its ticket online.
EasyJet's stock, which plunged by 40 percent after the terror attacks but has recovered since, rose 2.1 percent to 502 pence in early London trading. The stock has outperformed the FTSE transport sector by over 70 percent since the start of 2001.
EasyJet cashed in on investor confidence last month by raising £93 million ($132 million) through a share offer, which would help buy new planes and obtain new slots as it looks to increase its market presence.
The airline has expanded rapidly since it was founded in 1995 and plans to add to its European network, where it currently operates over 30 routes with hubs at Geneva, Amsterdam and Luton airport, which is some 50 kilometres north of London.
--Reuters contributed to this report 
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