Arab Today, arab today easyjet eyes massive opportunities in europe
Last Updated : GMT 18:01:58
Arab Today, arab today
Arab Today, arab today

Chief Carolyn McCall:

EasyJet eyes 'massive opportunities' in Europe

Arab Today, arab today

Arab Today, arab today EasyJet eyes 'massive opportunities' in Europe

EasyJet CEO Carolyn McCall
Luton - Arab Today

Europe's airline sector is on course for further consolidation, while the region offers "massive opportunities" for growth, according to Carolyn McCall, chief executive of British budget airline EasyJet.

"I definitely think there will be consolidation in Europe," McCall told AFP in a recent interview held in EasyJet's headquarters at Luton airport, north of London.

And she believes the company can build on its exceptionally strong growth during her almost six years in charge.

"If you actually look at the whole of Europe, we still see massive opportunities for growth.

"That is competing with some low cost carriers, but it is still mainly competing with the legacy carriers," she said from a hangar painted in the carrier's famous orange and transformed to house EasyJet's control centre and top management team.
Since McCall's appointment in 2010, EasyJet has grown pre-tax profits from around £50 million to almost £700 million ($1.0 billion, 891 million euros) in its last financial year.

"It's an enormous profit growth and we need to reinvest some of our money.... Our aim is to continue to grow profit and particularly to grow returns for shareholders," said McCall, who is one of only six women heading a company trading on London's benchmark FTSE 100 stock index.

McCall sees opportunity for further growth especially in France, where EasyJet has a 15-percent market share and is second only to dominant player Air France.

But the 54-year-old boss doesn't see her airline joining peer Norwegian Air Shuttle in become a long-haul operator and entering for example the US market, despite the low oil-price environment.

"Long-haul for us is not on our agenda. We think it's a different model, we think it's a high risk model. We await with interest how Norwegian does and of course if they make it a great success I'm sure others will follow but it's not for now," said McCall.

- Consolidation on horizon -

EasyJet's boss does however foresee a coming together of airlines, with Europe mirroring consolidation experienced in the United States.
"In the US... it happened much more quickly and now there are four big airline groups," she noted.

"There are many other considerations when you look at airlines in Europe, including political considerations. So it is a different landscape but consolidation will happen and I think we will be part of driving some of that consolidation."

McCall said that the low oil price environment was "making it easier for legacy carriers to stay alive with their capacity in Europe".

She added: "They're allowing some capacity that would not exist at a higher price of fuel."

Although McCall stressed that no airline enjoys oil-price volatility, as has been the case for many months, she insisted that "EasyJet performs well regardless of" the cost of crude used to make jet fuel.

She explained: "When oil is low we obviously get the benefit on the cost but it doesn't help us grow. You pass on quite a lot in fares.... Consumers benefit a great deal.

"As oil price increases, the capacity environment shakes out quite a lot. The weaker players take out a lot of capacity and we continue to grow... It's probably easier for us when oil is stable and higher."

McCall told AFP that ticket prices have come down also following last year's Paris terror attacks and the fatal airliner incident in Sharm el-Sheikh.

While demand has returned, "what hasn't recovered is pricing, so we've had to stimulate demand, all airlines had to do that... so the ticket prices have come right down", she said.  

- 'EU best for Britain' -

Looking ahead, McCall re-iterated EasyJet's stance that it does not wish to see Britain leave the European Union, as the country gears up for a referendum on the issue later this year.

"Britain being in Europe is the best thing for Britain and that is based on the fact that deregulation of aviation has been a fantastic benefit to consumers," she told AFP.

"It's reduced fares by 40 percent and it's increased routes by 170 percent."

And neither does McCall have any intention of stepping down from EasyJet any time soon, following media reports that she had recently been approached to take over the helm at British clothing-to-food retailer Marks and Spencer.

"I've been here, and I've loved every minute of it, for nearly six years. There's so much more to do and I'm totally committed to being at EasyJet.

"We have a fantastic opportunity for the foreseeable future," McCall said as she prepared to face shareholders at last week's annual general meeting.
Source :AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today easyjet eyes massive opportunities in europe Arab Today, arab today easyjet eyes massive opportunities in europe

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 13:17 2017 Wednesday ,15 February

Yemeni accuses militias of challenging oil

GMT 09:12 2017 Saturday ,11 February

Algorithms: the managers of our digital lives

GMT 09:07 2017 Saturday ,11 February

The biggest players today on Wall Street? Algorithms

GMT 08:15 2017 Saturday ,11 February

Tesla chief in public feud with auto workers union

GMT 06:23 2017 Thursday ,09 February

Oil market can cope with higher shale output

GMT 14:10 2017 Friday ,03 February

Reasons of growth rate conflicting numbers

GMT 21:05 2017 Tuesday ,31 January

Drought caused decline in Morocco
View News in Arabic - Business: حوارات وتقارير
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday