EasyJet 2017

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COMPANY PROFILE
easyJet Plc
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PUBLICATION DATE: 18 Aug 2017
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easyJet Plc
TABLE OF CONTENTS
TABLE OF CONTENTS
Company Overview ........................................................................................................3

Key Facts ......................................................................................................................... 3
Tickers ............................................................................................................................. 4
Business Description .....................................................................................................5
History ............................................................................................................................. 6
Key Employees .............................................................................................................24
Key Employee Biographies .........................................................................................25
Major Products & Services ..........................................................................................29
SWOT Analysis .............................................................................................................30
Top Competitors ...........................................................................................................34
Company View ..............................................................................................................35
Locations And Subsidaries .........................................................................................49
Financial Overview .......................................................................................................50
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easyJet Plc
Company Overview
Company Overview
COMPANY OVERVIEW
easyJet Plc (easyJet) is a low-cost point-to-point airline. The company operates through airbus fleet, an
A320 family aircraft with 186 seat cabins and fuel efficient A320neo aircrafts. It operates through a
network of hubs in 31 countries and operates 803 routes across the globe. The company's total fleet of
aircrafts is split between 156-seat Airbus A319s, 180-seat A320s and 186-seat A320s. It also offers a
mobile application for targeted customers and provides season based offerings to their customers. The
company has operational presence across the United Kingdom, Switzerland, Italy, France, Amsterdam,
Venice, Oporto, Lisbon and Barcelona. easyJet is headquartered in Luton, the UK.
The company reported revenues of (British Pounds) GBP4,669 million for the fiscal year ended
September 2016 (FY2016), a decrease of 0.4% over FY2015. In FY2016, the company’s operating
margin was 10.7%, compared to an operating margin of 14.7% in FY2015. In FY2016, the company
recorded a net margin of 9.1%, compared to a net margin of 11.7% in FY2015.
Key Facts
KEY FACTS
Head Office easyJet Plc

Hangar 89
London Luton Airport
Luton
Bedfordshire
Luton
Bedfordshire
GBR
Phone
Fax
Web Address www.easyjet.com
Revenue / turnover (GBP Mn) 4,669.0
Revenue (USD Mn) 7,137.0
Financial Year End September
Employees 10,000
London Stock Exchange (LON) EZJ
Ticker
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easyJet Plc
Company Overview
Tickers
TICKERS
EZJ
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easyJet Plc
Company Overview
Business Description
BUSINESS DESCRIPTION
easyJet plc (easyJet or 'the company') is a short-haul airline company with its operations focused primary
around markets in Europe. The company is one of the largest carriers in the UK. At the end of FY2016,
the company operated over 257 aircraft on more than 803 routes over 132 airports in 31 countries.
easyJet has major presence in the UK, Switzerland, France, Italy, Germany, Spain, and Portugal.
The company has one operating segment, being its Route Network.
During FY2016, the company carried 73.1 million passengers. easyJet operates a single Airbus fleet. As
of FY2016, the company's total fleet comprised of 257 aircraft, which included 156 Airbus A319s and 180
A320s. In FY2016, easyJet's average passenger load factor was 91.6%. The company recorded revenue
passenger kilometers of 81,496 million and available seat kilometers of 87,724 million during the same
period.
easyJet is the largest airline in Switzerland with major presence in Geneva and Basel. In France, easyJet
is the number one carrier in Nice and number two after Air France in most of the remaining airports where
it operates easyJet operates through its main Milan Malpensa base with a strong presence in Rome
Fiumicino, Venice, and Naples. The company is the second largest carrier in Amsterdam with three based
aircraft. In FY2016, the Route Network segment accounted for 100% of the company's total revenue.
Geographically, the company classifies its operations into four geographies, namely the UK, Southern
Europe, Northern Europe, and Other Countries. In FY2016, the UK accounted for 48% of the company's
total revenues, followed by Southern Europe with 29.5%; Northern Europe with 21.1%; Other Countries
with 1.4%.
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easyJet Plc
Company Overview
History
HISTORY
Contracts/Agreements
Year: 2017
EasyJet signed a long term partnership deal with Atout France, the French Tourism Development
Agency.
Plans/Strategy
Year: 2017
In July, the company planned to hire more than 1,200 men and women cabin crew staff.
Year: 2017
In September, L3 Technologies's Commercial Training Solutions (CTS) business chosen by easyJet to

provide new RealitySeven Full Flight Simulator (FFS).
Year: 2017
In November, easyJet collaborated with HolidayTaxis to launch new airport transfers booking portal and
provide customer a faster transfer times and book the best deals.
Corporate Changes/Expansions
Year: 2016
easyJet began operating 20 new routes, including three for both Newcastle and Bristol which it expects to
carry more than 67,000 passengers across and one for Luton.
New Products/Services
Year: 2016
easyJet launched ‘Apple Pay’ for bookings via iOS app.
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easyJet Plc
Company Overview
Others
Year: 2016
The company personalised its mobile app notifications that make travel easier.
Year: 2016
The company launched new route between Malta and Geneva, Switzerland.
Year: 2016
easyJet opened its Venice base for business travel in Northeast Italy with four A319 Airbus. The company
also opened a new base in Barcelona with three Airbus A320.
Year: 2016
easyJet started its new route from London Southend Airport to Paris Charles de Gaulle.
Year: 2016
easyJet and Travelport entered into a new long-term agreement. In this agreement, Travelport-connected
travel agencies would continue to have access to easyJet’s content through the Travel Commerce
Platform.
Year: 2016
easyJet strengthened its Italian strategy through expanding its bases in Italy at Milan Malpensa and
Naples and the opening of a new base in Venice.
Year: 2016
The company launched two new routes from Scotland to Venice, Italy, and Vienna, Austria.
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easyJet Plc
Company Overview
Year: 2016
The company renewed its partnership with Sabre. The agreement gives corporate travel agencies across
Europe continued access to easyJet fares through the Sabre global distribution system.
Year: 2016
EasyJet opened a 2 bay hangar facility at London Gatwick Airport.
Year: 2016
The company selected SR Technics to perform its heavy maintenance for its Airbus A320 fleet of aircraft.
Year: 2016
easyJet announced a new route from Bristol Airport to Turin.
Year: 2016
The company launched its first flight from Manchester to Gibraltar.
Year: 2016
easyJet renewed its partnership with Amadeus. The agreement gives Amadeus subscribers continued
access to easyJet’s range of fares.
Year: 2016
The company announced a new route from London Gatwick to Are Ostersund Airport, Sweden. easyJet
also announced a new route from London Gatwick to Ljubljana.
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easyJet Plc
Company Overview
Year: 2016
The company launched Apple Pay on Web.
Year: 2016
EasyJet signed a multi-million pound deal with Founders Factory, the corporate backed, multi-sector
accelerator and incubator created by Brent Hoberman and Henry Lane Fox.
Year: 2016
The company started two new services from Newcastle International Airport to Berlin Schoenefeld Airport
and Las Palmas Airport in Gran Canaria.
Others
Year: 2016
The company added a fourth aircraft to its fleet at the airport.
Year: 2015
easyJet opened a new base in Porto. The company also announced a new Amsterdam Schiphol base.
Others
Year: 2015
The company enhanced its mobile app by adding live aircraft tracking functionality directly from
Flightradar24.
Year: 2015
easyJet expanded its Scottish network with the launch of a new route from Glasgow to Milan Malpensa,
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easyJet Plc
Company Overview
Italy.
Year: 2015
easyJet agreed to a three year strategic partnership with Cranfield University to work together on projects
which support each other's strategic objectives.
Year: 2015
easyJet opened its new base at Francisco de Sa Carneiro Airport in Portugal.
Year: 2015
easyJet took delivery of its 250th Airbus A320 family aircraft in Hamburg.
Year: 2015
easyJet launched three new routes, including London Gatwick to Preveza in Greece and Pula in Croatia
and Stansted to Monastir in Tunisia.
Year: 2015
The company selected AJW Group as the primary provider of the airline's requirements for component
maintenance and the provision, storage and distribution of spare parts.
Year: 2015
easyJet opened new base at Schiphol Airport, Amsterdam.
Year: 2015
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easyJet Plc
Company Overview
easyJet announced an initiative with Airbus to study fault prognosis capabilities to enhance Airbus'
prognostics maintenance eSolutions and services.
Plans/Strategy
Year: 2015
The company announced its plans for four new routes from the airport to Lanzarote, Catania, Porto and
Gibraltar. easyJet planned to introduce a new route to Catania, Sicily.
Year: 2015
Bristol Airport and easyJet entered into a new five year agreement.
Year: 2015
easyJet launched two new routes to Brussels and Strasbourg from London Gatwick.
Others
Year: 2015
easyJet completed the final stage of testing for the AVOID (Airborne Volcanic Object Identifier and
Detector) volcanic ash technology through a unique experiment involving the creation of an artificial ash
cloud.
Plans/Strategy
Year: 2015
The company planned to launch three new UK routes from Manchester, Bristol and London Luton
Airports to the new Porto base.
Year: 2014
LKQ and Chrysler Group entered into a patent license agreement (PLA) whereby LKQ was granted a
license under certain Chrysler design patents in connection with LKQ's distribution and sale of
aftermarket collision parts in the US.
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easyJet Plc
Company Overview
Year: 2014
easyJet launched the only direct scheduled flights between Bristol and Gibraltar Airport, further
strengthening links from the South West of England to the rest of Europe.
Year: 2014
EasyJet announced that it will operate 26 new routes next summer including two, Essaouira in Morocco
and Stuttgart in Germany, which are new destinations for the airline.
Year: 2014
easyJet announced its newest destination from London Luton airport is to be Rome Fiumicino, Italy.
Year: 2014
The company's first flight from London Gatwick to Tel Aviv, Israel took off. easyJet also launched 'lowest
fare finder' on easyJet.com along with adding live flight tracking in partnership with website Flightradar24.
Year: 2014
EasyJet worked with FlightWatching to install an early fault prognosis tool which can provide the airline's
operations and engineering staff with live updates directly from all of its aircraft as they fly.
Year: 2014
easyJet launched five new routes from Rome Fiumicino to Montpellier, Thessaloniki, Belgrade and the
islands of Menorca and Rhodes.
Year: 2014
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easyJet Plc
Company Overview
The company's inaugural flight to Venice took off.
Year: 2014
EasyJet renewed its distribution agreement with Travelport, a distribution services and e-commerce
provider for the global travel industry. EasyJet signed a deal in Europe to extend the airline's offerings
among corporate travelers through BCD Travel's global network.
Year: 2014
easyJet announced three new routes for Scottish Airports, expected to carry around 34,000
holidaymakers. From 2014 onwards easyJet will offer the only direct connections from Aberdeen to
Geneva, as well as flights from Glasgow to Marrakech and Edinburgh to Funchal.
Year: 2014
easyJet selected CFM International as its engine supplier to provide 270 engines to power its firm order
of 35 Airbus current generation A320 aircraft and 100 Airbus new generation A320neo aircraft, together
with any future exercise of the 100 purchase rights over new generation aircraft.
Year: 2014
easyJet announced six new routes from Amsterdam alongside some additional frequencies.
Year: 2014
The company introduced a new inflight retail range with a focus on locally sourced fresh produce.
Year: 2014
easyJet announced the addition of a third Airbus A320 aircraft which will be based at Nice Cote D'Azur
airport to further strengthen the airlines' long term commitment to the region.
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easyJet Plc
Company Overview
Year: 2014
easyJet launched two new routes from Belfast International Airport to Bordeaux and Jersey.
Year: 2014
easyJet celebrated six years of flights to Jersey Airport with the launch of a new service to Belfast
International.
Year: 2014
EasyJet announced the launch of its first services from London Gatwick to Bergen and London Gatwick to
Moscow.
Year: 2014
easyJet introduced the new and lightweight SL3510 seats onboard all of its new aircraft.
Acquisitions/Mergers/Takeovers
Year: 2014
EasyJet completed an agreement with Flybe Group to acquire 25 pairs of arrival and departure slots at
Gatwick airport for a total consideration of £20 million.
Year: 2014
easyJet holidays became a pan-European tour operator through a new partnership with the online travel
agency Hotelopia.
Year: 2014
easyJet launched five new year-round services from London Gatwick to Brussels, Paris Charles de
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easyJet Plc
Company Overview
Gaulle, Jersey, Newcastle and Strasbourg.
Year: 2014
EasyJet agreed on a new 10 year deal with London Luton Airport.
Year: 2013
easyJet in partnership with CTC Aviation and Middlesex University launched the first ever airline-
supported UK degree course specifically for pilots.
Year: 2013
easyJet connected Milan with the popular destination of Tel Aviv in Israel. The company introduced a
third route between the UK and Tel Aviv.
Year: 2013
easyJet launched dedicated Chinese homepage in response to the growing number of Chinese
customers flying with the airline and booking through easyJet.com.
Year: 2013
easyJet added 10 new routes from its London Gatwick, Edinburgh, Glasgow, Newcastle and Belfast
bases to destinations across the UK and Europe.
Year: 2013
EasyJet and Sabre Travel Network, a global technology company, joined together to enhance the
experience of travel bookers using the Sabre travel marketplace.
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easyJet Plc
Company Overview
Year: 2013
EasyJet enhanced connections between Inverness and London as part of a new five year deal between
the airline and Inverness Airport.
Year: 2013
EasyJet launched its first flight from London Gatwick to Santiago de Compostela, the capital city of the
Galicia region in western Spain.
Year: 2013
The company entered into a partnership with Disneyland Paris, to offer the European customers with a
range of travel and accommodation options when booking holidays to the resort.
Year: 2013
The company launched a new route from London Southend Airport to Edinburgh.
Year: 2013
The company introduced the first direct flight between Edinburgh and London Southend.
New Product Approvals
Year: 2013
EasyJet introduced two new routes for Bristol Airport with flights to Reykjavik and Marrakech.
Year: 2012
The company launched a new route to Tel Aviv from Manchester; from Belfast International Airport to
Birmingham Airport; three new routes from London Gatwick Airport; a new Italian route from London
Southend Airport to Venice; and nine new routes across the company's UK network; a new route from
London Gatwick to Kefalonia; and two new routes to the Spanish cities of Palma, and Malaga from
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easyJet Plc
Company Overview
London Southend Airport.
Year: 2012
easyJet announced the launch of route Madrid-Bilbao.
Year: 2012
The company signed corporate travel deal with UK travel management businesses, FCm Travel Solutions
and Corporate Traveller. The company also signed a pan European commercial agreement with
American Express Global Business Travel.
Year: 2012
The company launched its new base at London Southend Airport.
Year: 2012
EasyJet signed an agreement with Europe's hotel reservation, Booking.com. The deal would make more
than 200,000 properties globally, available for easyJet customers to book.
Commercial Operation
Year: 2012
The company began operating its new route from London Luton Airport to Reykjavik in Iceland.
Year: 2012
The company entered into a partnership with Airbus to test the AVOID (Airborne Volcanic Object Imaging
Detector) ash detection equipment on their A340-300 test aircraft at the speed and altitude of commercial
aircraft.
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easyJet Plc
Company Overview
Year: 2012
The company launched its first mobile optimized website across Europe.
Year: 2012
The company appointed Airbus as its preferred aircraft supplier. As part of the deal, easyJet placed a firm
order for 120 Airbus A319 aircraft for delivery from 2003 over five years, with a further 120 Airbus A319
aircraft scheduled to be ordered by 2012.
Year: 2011
easyJet launched its first flight from Belfast International Airport to Manchester. The company also
launched its first route to Seville in Spain from its London Gatwick base.
Year: 2011
The company launched a new route from Gatwick to the Greek Island of Kefalonia. The company opened
two new permanent bases in France at Nice and Toulouse.
Year: 2011
easyJet and National Express launched a new online travel deal. The company also launched airline
phone application.
Year: 2011
easyJet Flexi was made available on easyJet.com.
Year: 2011
easyJet launched a new route to Fuerteventura in the Canary Islands from its base, London Gatwick. The
company also launched a new route to Jersey from London Southend.
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easyJet Plc
Company Overview
Year: 2011
easyJet launched a new service from Bristol to Naples.
Year: 2011
easyJet launched a new route between Glasgow and Amsterdam.
Others
Year: 2011
easyJet increased its Manchester fleet with the arrival of its sixth aircraft, and the seventh aircraft is due
to arrive in Manchester in 2012.
Year: 2011
The company launched the new route from Aberdeen to Gatwick. easyJet also launched a new route to
Salzburg from Luton Airport.
Year: 2011
The company opened a new base with three A319 aircraft from London Southend Airport.
Year: 2011
The company launched a new route from Luton to Crete. easyJet also launched a new route from London
Luton Airport to Reykjavik in Iceland.
Year: 2010
The company launched its first ever route to Sweden from the UK.
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easyJet Plc
Company Overview
Year: 2010
The company and Lowcosttravel group entered into a three year strategic agreement to combine
easyJet's low fares and convenient flights.
Year: 2009
easyJet entered into a partnership with HostelWorld.com, a provider of online reservations. Pursuant to
which, the new partnership would provide hostels, B&B and guesthouse accommodation for easyJet's
passengers.
Year: 2009
The company launched a new ski holiday website, which enabled customers to book ski hotel and
apartment accommodation, ski transfers, ski equipment hire and lift passes online via www.easyJet.com.
Year: 2009
EasyJet and SR Technics, the aircraft maintenance provider, entered into an agreement for the renewal
and extension of their contract creating an 11 year co-operation for the maintenance of the airline's 157
Airbus aircraft.
Year: 2007
LKQ acquired Transwheel Corporation, an aluminum alloy wheel refurbishing and distribution business.
LKQ also acquired ten businesses in which one was the wheel refurbishing and distribution businesses,
two were the aftermarket automotive parts businesses and seven were recycled OEM automotive parts
businesses.
Year: 2007
The company entered into distribution deals with Amadeus and Galileo, part of Travelport GDS.
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easyJet Plc
Company Overview
Year: 2007
The company's subsidiary, easyJet Airline Company, completed the acquisition of GB Airways.
Year: 2006
easyJet added four new direct European routes from Glasgow. The company also launched new routes
from London Luton to Bordeaux, Rimini and Rijeka, Liverpool John Lennon Airport to Faro, from Bristol to
Paris and from Edinburgh to Munich.
Year: 2006
The company launched new base at Madrid's Barajas airport.
Year: 2006
The company launched new routes from London Gatwick to the Republic of Ireland and new routes to
Bremen, Bournemouth and Stansted.
Year: 2006
The company entered into ski partnership with Iglu.
Year: 2005
The company acquired two businesses which include Independent Auto Parts headquartered in
Pennsylvania and Mid-State Aftermarket Parts, headquartered in Arkansas.
Year: 2005
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easyJet Plc
Company Overview
LKQ acquired Fit-Rite Body Parts and its affiliated companies that include Accu-Parts, B&D Automotive
International, Pennsylvania Collision Parts and Fit Master Body Parts.
Year: 2004
easyJet expanded in Germany as easyJet made Dortmund International Airport its next European base.
Year: 2003
The company opened an operating base in Berlin and entered into the German market.
Asset Purchase
Year: 2002
The company purchased Stansted-based low-cost airline 'Go'.
Stock Listings/IPO
Year: 2000
easyJet was listed on the London Stock Exchange.
Year: 1998
The company acquired 40% stake in the Swiss based charter airline TEA Basel and later rebranded as
easyJet Switzerland.
Year: 1998
EasyJet and Liverpool John Lennon Airport (JLA) confirmed the signing of a new nine year agreement for
the expansion of the UK's largest airline from Liverpool.
Year: 1998
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easyJet Plc
Company Overview
EasyJet added a new service to Venice making more than 60,000 seats available for its passengers.
Year: 1998
UK Trade & Investment (UKTI) and easyJet joined Trade mission to Moscow.
Year: 1997
The company started its services between Liverpool John Lennon and Amsterdam. The company also
launched easyJet.com to provide information on the airline.
Year: 1996
The company expanded its operations by operating flights between London Luton, Aberdeen,
Amsterdam, Nice, and Barcelona. The company's first wholly-owned aircraft was also delivered.
Incorporation/Establishment
Year: 1995
easyJet plc (easyJet or 'the company') was founded by Stelios Haji-Ioannou to offer low cost scheduled
airline services within Europe.
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easyJet Plc
Company Overview
Key Employees
KEY EMPLOYEES
Name Job Title Board Compensation

Carolyn McCall Chief Executive Officer Executive Board 1465000 GBP
Andrew Findlay Chief Financial Officer Executive Board 1263000 GBP
John Barton Chairman Non Executive Board 300000 GBP
Charles Gurassa Deputy Chairman and Senior Non Executive Board 100000 GBP
Independent Director
Keith Hamill Independent Director Non Executive Board 60000 GBP
Andy Martin Independent Director Non Executive Board 68000 GBP
Adele Anderson Independent Director Non Executive Board 77000 GBP
Andreas Bierwirth Independent Director Non Executive Board 60000 BRL
Chris Browne Chief Operating Officer Senior Management
Cath Lynn Group Director, Strategy and Senior Management
Network
Chris Brocklesby Chief Information Officer Senior Management
Paul Moore Communications Director Senior Management
Peter Duffy Chief Commercial Officer Senior Management
Kyla Mullins Company Secretary and Group Senior Management
General Counsel
Jacky Simmonds Group People Director Senior Management
Moya Greene Director Non Executive Board
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easyJet Plc
Company Overview
Key Employee Biographies
KEY EMPLOYEE BIOGRAPHIES
Carolyn McCall
Board:Executive Board
Job Title:Chief Executive Officer
Since:2010
Carolyn McCall has been the Chief Executive Officer at easyJet plc (easyJet or 'the company') since
2010. Previously, Ms. McCall was the Chief Executive at Guardian Media Group. She served as a
Director at Lloyds TSB from 2008 to 2009. Ms. McCall also served as a Director at Tesco from 2005 to
2008 and at New Look from 1999 to 2005.
Andrew Findlay
Board:Executive Board
Job Title:Chief Financial Officer
Since:2015
Andrew Findlay has been the Chief Financial Officer at easyJet since 2015. Mr. Findlay served as the
Chief Financial Officer at Halfords. Prior to that, he served as a Director of Finance, Tax, and Treasury at
Marks and Spencer. Mr. Findlay also held Senior Finance roles at the London Stock Exchange and at
Cable and Wireless, both in the UK and the US.
John Barton
Board:Non Executive Board

Job Title:Chairman
Since:2013
Age:73
John Barton has been the Chairman at easyJet since 2013. Mr. Barton is also the Chairman at Next and
a Director at SSP Group and Matheson & Company. He has served as the Chairman at Catlin Group,
Cable and Wireless Worldwide, Brit Holdings, and Wellington Underwriting. Mr. Barton was a Senior
Independent Director at WHSmith and Hammerson. He was also the Chief Executive at JIB Group from
1984 to 1997.
Charles Gurassa

Job Title:Deputy Chairman and Senior Independent Director
Since:2011
Age:61
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easyJet Plc
Company Overview
Charles Gurassa has been the Deputy Chairman and Senior Independent Director at easyJet since 2011.
Mr. Gurassa is also the Chairman at Channel 4. He held senior positions, including as the Chief
Executive at Thomson Travel Group; Executive Chairman at TUI Northern Europe; and the Director of
Passenger and Cargo at British Airways. Mr. Gurassa retired from full time work in 2003. He was the
Chairman at Netnames, LOVEFiLM, Phones4U, Virgin Mobile, Alamo/National Rent a Car, and 7Days.
Keith Hamill

Job Title:Independent Director
Since:2009
Age:65
Keith Hamill has been an Independent Director at easyJet since 2009. Mr. Hamill is also a Director at
Samsonite International and the Chairman at Horsforth Holdings. He served as the Chairman at Go,
Bagir, and Travelodge. Mr. Hamill also served as the Chairman at Collins Steward, Heath Lambert, Avant
Homes, and the Council of The University of Nottingham. He was a Finance Director at WH Smith, Forte,
and United Distillers; and a Partner at Price Warehouse.
Andy Martin

Since:2011
Age:57
Andy Martin has been an Independent Director at easyJet since 2011. Mr. Martin was the Group Chief
Operating Officer of Europe, the UK, and Japan at Compass Group. Prior to joining the Compass Group
in 2004, he served as the Group Finance Director. Mr. Martin was a Partner at Arthur Andersen; and held
senior financial positions at Forte, and Granada Group. In 2016, he joined the Intertek Group as a
Director.
Adele Anderson

Since:2011
Age:52
Adele Anderson has been an Independent Director at easyJet since 2011. Ms. Anderson has been a
Director at Intu Properties since 2013 and has recently been appointed as a Director at Spire Healthcare
Group. She is also a Trustee at Save the Children UK. Ms. Anderson previously worked as a Partner at
KPMG. She was the Chief Financial Officer at KPMG UK, the Chief Executive Officer at KPMG’s captive
insurer, and the Chief Financial Officer at KPMG Europe.
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easyJet Plc
Company Overview
Andreas Bierwirth

Since:2014
Age:46
Andreas Bierwirth has been an Independent Director at easyJet since 2014. Mr. Bierwirth has also been
the Chief Executive Officer at T-Mobile Austria since 2012. He previously served as a Member of the
Board at Austrian Airlines from 2008 and 2012, including serving as the Chief Commercial Officer.
Between 2006 and 2008, Mr. Bierwirth also served as the Vice President of Marketing at Deutsche
Lufthansa. He was Deputy Managing Director and later became the Managing Director at Germanwings
from 2002 and 2006.
Chris Browne
Board:Senior Management
Job Title:Chief Operating Officer
Since:2016
Age:57
Chris Browne has been the Chief Operating Officer at easyJet since 2016. Ms. Browne also serves as a
Director at Bovis Homes plc. She served as the Managing Director at Thomson Airways from 2007–14.
Cath Lynn
Job Title:Group Director, Strategy and Network
Cath Lynnhas currently serves as the Group Director of Strategy and Network at easyJet. Ms. Lynn joined
the company in 2002, following the merger with Go. She served several senior leadership roles at
easyJet, including as the Head of Ground Operations; Head of Airport Development, and Procurement;
and Head of Network Development. In 2011, Ms. Lynn was appointed as the Customer and Revenue
Director at the company.
Chris Brocklesby
Job Title:Chief Information Officer
Age:51
Chris Brocklesby currently serves as the Chief Information Officer at easyJet. Before joining the company
in 2015, Mr. Brocklesby was the Chief Information Officer at Tesco Bank. He joined Tesco in 2007 and
was promoted to run the UK Stores IT team. Mr. Brocklesby spent 18 years at Accenture in their Financial
Services and Technology practices and became a Partner in 2000.
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easyJet Plc
Company Overview
Paul Moore
Job Title:Communications Director
Since:2010
Age:55
Paul Moore has been the Communications Director at easyJet since 2010. Before joining the company,
Mr. Moore was the Group Public Affairs and Communications Director at FirstGroup. Prior to that, he
worked at Virgin Atlantic Airways for 10 years as its Director of Corporate Affairs. Mr. Moore started his
career as a civil servant and first joined the transport sector with the Department of Transport.
Peter Duffy
Job Title:Chief Commercial Officer
Since:2016
Age:51
Peter Duffy has been the Chief Commercial Officer at EasyJet since 2016. Before joining the company,
Mr. Duffy was the Marketing Director at Audi in the UK. Prior to that, he was the Marketing Services
Director at Barclays.
Kyla Mullins
Job Title:Company Secretary and Group General Counsel
Kyla Mullins currently serves as the Company Secretary and Group General Counsel at easyJet. Before
joining the company, Ms. Mullins was the General Counsel and Company Secretary at Mitie Group. She
also held senior legal roles at Discovery Channel and Turner Broadcasting.
Jacky Simmonds
Job Title:Group People Director
Since:2016
Age:54
Jacky Simmonds has been the Group People Director at easyJet since 2016. Ms. Simmonds was
appointed a Director at Wolseley in 2014. Before joining easyJet, she was the Group Human Resource
Director at TUI from 2010 to 2015 and previously held a number of senior positions within TUI including,
Human Resource Director at TUI UK and Ireland and First Choice from 2007 to 2010.
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easyJet Plc
Company Overview
Major Products & Services
MAJOR PRODUCTS & SERVICES

easyJet plc (easyJet or 'the company') is a pan-European low-cost airline carrier company.
The company's key services include the following:
Services:
Passenger Transportation Services

Aircraft Trading and Leasing
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easyJet Plc
Company Overview
SWOT Analysis
SWOT ANALYSIS
easyJet plc (easyJet or 'the company') is a pan-European low-cost airline carrier company. The
company's strong position in the key aviation markets of Europe backed by its competitive business
model supports it in delivering sustainable operational and financial performance. However, the regulatory
price increases at the company's primary airports could increase its overall cost base and negatively
impact its efforts to streamline its costs.
Strength Weakness
Strong positions in the key aviation markets of Europe Lack of geographic diversification
Competitive and flexible business model
Opportunity Threat
Positive outlook for the European airline industry Growing airline safety concerns may impact passenger
Network expansion to enhance coverage and drive traffic volume
growth Intense competition and price discounting
Growing international tourism Consolidation in the airline industry could impact the
financial condition
Strength
Strong positions in the key aviation markets of Europe
easyJet enjoys strong position in the key aviation markets of Europe. The company operates through
pan-European network which connects most of the top 100 city to city market pairs than any other airline.
It is the leading short-haul carrier in Europe with a market share of 8%. easyJet has number one or two
market positions at primary airports including London Gatwick, Geneva, Paris Orly, Paris Charles de
Gaulle, Amsterdam and Milan Malpensa. It has strong position in the major and valuable European
aviation markets comprising the UK, Switzerland, France, Italy, Germany, Portugal, and the Netherlands.
easyJet is the UK's largest short-haul airline by market share at almost all of the company’s UK bases,
including its major bases of London Gatwick, London Luton, Bristol, Belfast and Edinburgh. The company
is the number one carrier in Geneva and Basel. Further, in France, easyJet is the number one carrier in
Nice and number two after Air France in most of the remaining airports where it operates. In Italy, the
company has a leading market share in its main Milan Malpensa base and a strong presence in Rome
Fiumicino and Naples.
easyJet's strong position in the key aviation markets of Europe supports the company in delivering
sustainable operational and financial performance.
Competitive and flexible business model
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easyJet Plc
Company Overview
easyJet conducts its business through low cost and flexible business model which ultimately helps in
generating strong cash flow and creating long-term shareholder value. The company's competitive
business structure is derived from its scale and cost advantage, high asset utilization, a young fleet with
low cost ownership, one of the leading online and digital offerings, and industry-leading load factors. The
company has a cost advantage over its competitors in the airports that it operates from, allowing it to offer
competitive and affordable fares. Its key competitors in these airports tend to be legacy carriers with
older, less efficient aircraft, lower asset utilization, lower seat densities and load factors, and higher levels
of fixed costs. This lower cost base enables easyJet to offer lower fares. In addition, easyJet's asset
utilization of 11 block hours per day for owned aircraft is amongst the highest in the industry.
easyJet has built up key positions in slot constrained airports over a number of years which provide the
company with a competitive and resilient network platform for its operations. Also, the company's 'easyJet
Lean' initiative has given better than expected cost performance in areas such as airports, ground
handling, engineering and fuel. The key objective of easyJet Lean initiative is to protect the company’s
structural cost advantage by ensuring below inflation non-fuel cost per seat increases. Thus, the
competitive and flexible business model supports the company's business performance and helps in
reducing the uncertainties in the internal and external operating environments.
Weakness
Lack of geographic diversification
As a pan-European low-cost airline carrier company, easyJet faces significant risk associated with the
current political and economic uncertainty of the European region. The company primarily derives all of its
revenue from its operation based in the European region. Moreover, air traffic control costs are
approximately double in Europe than they are in the US. In spite of trimming down legacy costs through
mergers, consolidation and restructuring, European carriers are still facing various challenges of
regulation and government.
Hence, lack of geographic diversification could make easyJet susceptible to the changes in the operating
environment of the European aviation market which in turn may negatively impact its overall business
result as well as its competitiveness against peers which operates through relatively balanced geographic
presence.
Opportunity
Positive outlook for the European airline industry
The European airlines industry is expected to grow positively in the coming periods. According to
MarketLine, the European airlines industry generated total revenues of $135,040.3 million in 2016, an
increase of 4.1% over 2015. Furthermore, the industry is expected to grow at a CAGR of 7% for 2016–20
period to reach a value of approximately $178,648.5 million in 2020.
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easyJet Plc
Company Overview
easyJet is one of the leading providers of passenger air transportation services in Europe. The company
flies over 257 aircraft on more than 803 routes over 132 airports in 31 countries with major presence in
the UK, Switzerland, France, Italy, Germany, Spain, and Portugal. Thus, the positive growth of European
transportation services industry could provide increased business opportunities to the company.
Network expansion to enhance coverage and drive growth
easyJet focuses on the continuous expansion of its bases and addition of new routes to enhance its
competitiveness and grow business. For instance, in September 2016, the company announced a new
route from London Gatwick to Ljubljana. In August 2016, EasyJet announced a new route from London
Gatwick to Are Ostersund Airport, Sweden. During June 2016, the company announced a new route from
Bristol Airport to Turin. In March 2016, the company launched new route between Malta and Geneva,
Switzerland. Also, in February 2016, the company launched two new routes from Scotland to Venice,
Italy, and Vienna, Austria. Further, in February 2016, easyJet started its new route from London Southend
Airport to Paris Charles de Gaulle.
Hence, continued focus on network and fleet expansion helps the company to expand its market reach
and customer service, which in turn could grow its customer base and financial performance.
Growing international tourism
The global tourism industry is booming which could boost the demand for the company's services.
According to the World Tourism Organization (UNWTO), the number of international tourists (overnight
visitors) reached 1,235 million in 2016, 46 million more than in 2015. With an increase of 3.9%, this is the
seventh consecutive year of above average growth since the 2009 economic crisis. Geographically, the
Americas, Europe, and Asia Pacific regions registered 5% growth in tourist arrivals.
Moreover, the UNWTO forecasts international tourism to grow by 3% to 4% in 2017. In terms of region,
Asia and the Pacific is expected to grow by (5% to 6%), the Americas by (4% to 5%), followed by Europe
with (2% to 3%). In addition, the decline in the global oil prices is expected to further lower transport costs
and boost economic growth by lifting purchasing power and private demand in oil importing economies.
Thus, a growing tourism sector auger well for easyJet as it could result in increase in passenger volume
which in turn may boost its overall business performance.
Threat
Growing airline safety concerns may impact passenger traffic volume
The growing security concerns in the wake of major airline accidents in the recent past may impact
passenger traffic volumes. Airlines are frequently faced with the threat of accidents and turbulences
during long-haul journeys. These accidents in several situations may be life threatening and in many
cases cause serious injuries. In 2016, major accidents resulted in approximately 115 fatalities.
Furthermore, the major accidents in 2015 and 2014 resulted in 136 and 376 fatalities, respectively.
Moreover, the disappearance of the Malaysia Airlines flight MH370 has further enhanced safety concerns.
The industry is reassessing the technology currently being used to track aircrafts and provide passenger
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easyJet Plc
Company Overview
safety.
Although the company was not involved in any major accidents in the distant past, the growing safety
concerns on air travel may impact the overall passenger traffic volume, which could affect its financial
position and future growth prospects.
Intense competition and price discounting
The airline industry is highly competitive. The principal competitive factors in the airline industry include
fares, customer service, routes served, flight schedules, types of aircraft, safety record and reputation,
code-sharing relationships, capacity, in-flight entertainment systems and frequent flyer programs. Airline
profits are sensitive to even slight changes in average fare levels and passenger demand. easyJet's main
competitors include Air Berlin, Deutsche Lufthansa, Ryanair, and Virgin Atlantic Airways, among others.
The price competition between airlines occurs through price discounting, fare matching, increased
capacity, targeted sale promotions and frequent flyer travel initiatives. A relatively small change in pricing
or in passenger traffic could have a disproportionate effect on an airline's operating and financial results.
Therefore, intense competition may result in price discounting and may thus pressurize the operating
margins of easyJet.
Consolidation in the airline industry could impact the financial condition
The airline industry has undergone substantial consolidation and is heading for more because of the
global recession. For instance, in 2013, American Airlines and US Airways merged together to create one
of the largest airlines in the world. Earlier in 2011, British Airways and Iberia created a new Group, IAG.
Also in the year, Southwest Airlines merged with fellow discounter AirTran Holdings. Similarly in 2010,
United Airlines merged with Continental Airlines and formed a new company, United Continental
Holdings. This merger created the world's largest airline, overtaking Delta. Earlier Delta Air Lines acquired
Northwest Airlines in 2008, which catapulted Delta at the time to the position of largest airline in the world,
generating significant cost savings for both the airlines.
These consolidations have resulted in the creation of large corporations with substantially greater
financial resources, including more favorable hedges against fuel price increases and lower cost
structures than the company. The creation of large competitors with, particularly due to consolidation in
the airline industry, may have a material adverse impact on the group's results of operations, financial
condition and liquidity.
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easyJet Plc
Company Overview
Top Competitors
TOP COMPETITORS
The following companies are the major competitors of easyJet Plc
Air Berlin PLC & Co. Luftverkehrs KG

American Airlines Group Inc
British Airways Plc
Delta Air Lines Inc
Ryanair Holdings plc
Virgin Atlantic Airways Ltd
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Company Overview
Company View
COMPANY VIEW
A statement by Carolyn Mccall, the Chief Executive Officer at easyJet plc, is given below. The statement
has been taken from the company’s Annual Report for FY2016.
Investing in our strengths
OVERVIEW
easyJet has delivered a resilient performance in the 2016 financial year, in the midst of a challenging
environment. Over four million more passengers flew with easyJet during the year reaching 73.1 million,
and the Company achieved another year of record load factor at 91.6%. This reflects easyJet’s
successful strategy of defending and maintaining market-leading positions in high-traffic, slot-constrained
airports.
Medium-term fundamentals across Europe remain robust with continued GDP growth supporting
spending in all our major markets. Although low fuel prices continue to encourage increased capacity
which impacts yields, EasyJet has performed strongly in a highly competitive market by focusing on
building number one positions in selected markets and strong cost control. The Company’s business
model and strategy leave it well positioned to be a structural winner within its chosen markets in the
overall European short-haul market.
Strong passenger growth and resilient revenue performance:
• Record number of passengers at 73.1 million, increasing by 4.5 million (6.6%) during the year. Load
factor also increased to a record level of 91.6%, an increase of 0.1 ppts from last year, reflecting the
attractiveness of easyJet’s network of destinations and frequencies at affordable prices.
• Capacity increased by 6.5%, with growth focused on strengthening easyJet’s leading network of number
one positions at Europe’s primary airports.
• Total revenue declined by 0.4% to £4,669 million (2015: £4,686 million). Revenue per seat decreased
by 6.4% to £58.46 due to:
– increased market capacity and aggressive pricing stimulated by a sustained low fuel price;
– cooling of demand and reduced consumer confidence following multiple terrorism-related incidents;
– higher holiday costs for UK travellers following the EU referendum and subsequent weakening of
sterling; and
– severe disruption during the year (due to strikes, severe weather, airport issues) which resulted in 8,349
flights (2015: 6,789) being either cancelled, delayed over three hours or diverted.
• Total impact of external events during the year on profit before tax of an estimated £150 million.
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Company Overview
• Non-seat revenue growth of 17% due primarily to tailoring our on-board product range, reflecting
increasing knowledge about our customers.
Taking control on costs:
• Total cost per seat improved by 2.0%, decreasing to £52.26. Total cost per seat at constant currency
improved by 4.6%, primarily driven by fuel price savings. Total cost per seat excluding fuel increased by
2.6% due to the impact of foreign exchange and at constant currency improved by 1.1%, slightly ahead of
target.
• Our reinvigorated lean cost programme delivered savings of £95 million, in airport, ground handling and
maintenance costs, as well as supplier management improvements, overhead reductions and benefits
realised from lean basing.
• This partially offset increasing costs of disruption and underlying airport and ground handling cost
inflation.
• Foreign exchange cost headwinds of £112 million.
• Pre-tax profit margin decreased by four percentage points to 10.6% (profit before tax of £495 million in
the 2016 financial year versus £686 million in the 2015 financial year) mainly due to the decline in
revenue and foreign exchange impact.
• easyJet continues to target flat cost per seat excluding fuel at constant currency for the 2019 financial
year versus the 2015 financial year at normal levels of disruption.
Our market context
Sector-leading balance sheet and dividend policy:
• Raised €500 million bond in February and secured a sector-leading credit rating (Standard and Poor's:
BBB+, Moody's: Baa1). In October 2016 a further €500 million bond has been issued on improved,
industry-leading terms.
• Cash and money market deposits at 30 September 2016 of £969 million (2015: £939 million).
• Return on capital employed at 14.6%, significantly above easyJet's cost of capital.
• Dividend payout ratio increased to 50% of profit after tax delivering a proposed ordinary dividend per
share of 53.8 pence (2015: 55.2 pence).
MARKET ENVIRONMENT
easyJet operates in the European short-haul aviation market, with a focused business model that has
enabled it consistently to generate higher levels of profitability compared to legacy carriers, its main
competitors. The overall short-haul market has grown by 25% over the last 10 years and its fundamentals
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Company Overview
remain strong. During this period, low-cost carriers have taken significant market share, with legacy
carriers cutting mainline capacity and transferring capacity from flag airlines to lower cost subsidiaries in
order to improve their competitiveness. In this environment, easyJet has grown to hold an estimated 8%
of the European short-haul market. As competitors continue to struggle to restructure their high cost
bases or operate with inadequate financial resources, easyJet is well positioned to continue selectively to
strengthen its market positions.
easyJet is focused primarily in Western and Northern Europe, where it flies to a network of primary
airports and routes that tap into affluent markets with populations that have a high propensity to travel.
Economic trends remain broadly favourable, with GDP growth expected in all our main markets.
Developments this year
The total European short-haul market grew by 6% year-on-year in the year ending 30 September 2016
and by 8% in easyJet’s markets, driven primarily by a continued low fuel price. easyJet grew capacity by
7% during the period, with growth of 8% in the first half and of 6% in the second half. In the same period,
easyJet’s competitors increased capacity by 8% in its markets, with particularly strong growth in Spain
and Germany.
OUR STRATEGY
easyJet focuses on developing strong positions in Europe’s leading airports – flying between airports
people want to travel to with optimised frequency. Its principal competitors at these leading airports are
the legacy airlines and charter carriers. easyJet’s structural cost advantage relative to these airlines
allows it to offer customers more affordable fares.
This cost advantage is created through a combination of factors including:
• aircraft configuration enabling a higher number of seats per aircraft;
• higher load factor and aircraft utilisation driven by its point-to-point model; and
• younger fleet and advantaged fleet deal reducing ownership and maintenance costs.
easyJet is confident that its strategy of building on its competitive advantages - an unparalleled network
and market positions, efficient low-cost model, well-known brand and strong balance sheet - will position
it to deliver sustainable and disciplined growth and returns for shareholders.
easyJet is delivering its strategy through its six strategic pillars:
1. Build strong number one and two network positions

2. A lean cost advantage
3. Customer and operational excellence
4. Data and digital
5. Grow revenue
6. The best people
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easyJet Plc
Company Overview
1. Build strong number one and two network positions
easyJet’s strategy is focused on key airports, serving valuable catchment areas that represent Europe’s
top markets by GDP, driving both leisure and business travel. easyJet has developed a more
economically resilient network than its competitors, helping to support consumer demand throughout the
cycle. These are strong, existing markets, built up over a period of time by legacy carriers.
easyJet's portfolio of peak time slots at airports, where either total slot availability or availability at
customer-friendly times is constrained, further reinforces its competitive advantage. easyJet currently
holds 16 number one market positions and has identified a number of potential targets for the next five
years where GDP is high, there are high passenger volumes and where there is no clear winner today.
We have the opportunity to both capture further market share and to grow the overall market.
Driven by strong underlying demand, an attractive customer proposition and a structural advantage, we
will continue to invest up to 9% annual capacity increases in growing its network to drive the highest
returns in the long-term. In 2016 we have refined our network strategy to ensure a greater focus on:
• Achieving number one positions both at primary airports and on our routes:
– On average, a number one airport and route position delivers over 50% greater contribution than a
number two position on both.
– 83% of easyJet's capacity touches an airport where it has the number one position by share.
• Investing in scale:
– Leading positions, route frequencies and multiple destinations create flexibility for customers, as well as
reinforcing the easyJet brand to ensure that it is ‘top of mind’.
• Investing with purpose:
– easyJet has a track record of generating returns from purposeful investments. 54% of the top 25% of
routes by contribution were not in the top 25% in 2012.
To build on this, easyJet has a clear network strategy to:
• protect its number one positions in the UK and Switzerland;

• secure a significantly stronger position in France;
• invest in lean bases to drive more efficient capacity growth across the network; and
• target specific market opportunities, such as city-based strategies in Germany, Italy and the
Netherlands.
easyJet regularly reviews its route network in order to maximize returns and exploit demand opportunities
in the market. During the year easyJet added 106 routes to the network, slightly more than last year.
These were focused on bases which supported the consolidation of its leading positions, including the
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Company Overview
UK, Switzerland and Italy; growing its share of the overall market in France (Paris Charles de Gaulle,
Lyon, Toulouse); or allocated to new bases such as Amsterdam, Venice and Oporto. In February we
opened a new base in Barcelona and in April announced a plan to open a seasonal base in Palma de
Mallorca for summer 2017. Along with Oporto and Lisbon these latter two form a core part of easyJet's
lean basing strategy. Reflecting our discipline, it also discontinued 38 routes which either did not meet
expected return criteria, or became secondary to a more attractive route elsewhere.
Over time, increased route maturity and frequencies have contributed to increasing profitability and
returns. easyJet has continued to establish stronger leadership positions in all of its main markets, to
achieve the aim of holding the number one position in each market or a number two position to a weak
flag carrier.
Progress in easyJet's main markets is as follows:
United Kingdom
easyJet continues to reinforce its strong position in the UK market, both London-based and regional. We
remain the number one carrier by market share at almost all of our UK bases, including its major bases of
London Gatwick, London Luton, Bristol, Belfast and Edinburgh. Our positioning, market share and airport
bases are driving both leisure and business passengers. easyJet increased capacity by 8% in the year
ending 30 September 2016, maintaining market share on the key London to Scotland routes while
investing in growth in Luton, Bristol and Manchester. easyJet's competitors increased their capacity on
our markets by 9%.
Italy
easyJet's main focus in Italy is on the higher-value catchment areas, reflecting our regional and city-
based strategy. EasyJet is the biggest operator at Milan Malpensa with 21 based aircraft, has recently
opened a new base at Venice (with 4 based aircraft) and added a fourth aircraft to the base in Naples
(and is the number one airline at both). During the year we successfully closed Rome Fiumicino, which
still remains an important part of the network with an expected two million passengers a year. easyJet
increased net capacity in Italy by 1%, after taking into account the closure of the Rome base, against
competitor growth on its markets of 8%.
France
easyJet sees opportunities to grow its market share in France, leveraging its competitive market position
against the flag carrier, adding capacity at Charles de Gaulle airport through up-gauging and
strengthening its domestic network. easyJet is the number one carrier in Nice and number two after Air
France in most of the remaining airports where it operates. We increased capacity in France by 8% in the
year, against competitor growth on our markets of 5%.
Switzerland
easyJet is the number one operator at both Geneva and Basel airports, with the latter also part of the
Zurich catchment area. We increased capacity by 7% in the year ending 30 September 2016, building
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easyJet Plc
Company Overview
and reinforcing our leading positions at both airports. As the leading airline brand in Geneva and Basel,
easyJet’s strategy is to continue to build customer preference in the market. Competitor capacity declined
by 1% in easyJet's markets, impacted by easyJet's strong action over the past two years.
Germany
Germany is a large and attractive market, although with a more regional, federal structure than other
European countries. easyJet’s strategy is therefore city-based, not country-wide. easyJet is focused on its
two bases at Berlin Schönefeld, where it is the number one airline, and Hamburg, which was opened in
2014. We are targeting continued growth in Germany, taking share from the incumbent operators. We
have increased capacity by 5% during the year. Competitor growth on easyJet's markets was 11%, with
high growth at Berlin Schönefeld in particular.
Netherlands
The Netherlands is a significant opportunity for easyJet, as Amsterdam is a major business and leisure
market. Having opened a new base at Schiphol Airport, Amsterdam in March 2015 we are now the
second-biggest operator and are continuing to invest in growth of our market share. EasyJet increased
capacity by 24% during the year against competitor growth on our markets of 8%.
Portugal and Spain
Portugal and Spain are easyJet's primary focus for lean basing, as well as inbound markets with strong
demand on key flows to the region from the rest of Europe. We increased capacity by 17% and 6% in
Portugal and Spain respectively. easyJet opened its new base at Barcelona in February 2016. Competitor
market growth on easyJet's markets was 14% in Portugal and 16% in Spain.
2. A lean cost advantage

easyJet has a strong cost-focused culture, with structural advantages in key areas that enable it to
combine a leading airport network with affordable fares. easyJet’s lean culture consistently delivers
substantial cost savings against underlying cost inflation and we are committed to delivering our target of
flat cost per seat excluding fuel at constant currency in the 2019 financial year versus the 2015 financial
year at normal levels of disruption.
In 2016, cost per seat improved by 2.0% primarily reflecting benefits from fuel, partially offset by the £112
million impact of foreign exchange. At constant currency, cost per seat excluding fuel improved by 1.1%.
Existing easyJet lean initiatives delivered savings of £95 million, an increase of 106% year-on-year.
These savings were primarily the result of improvements in airports, maintenance and ground handling
costs.
easyJet has a number of initiatives in place that will help to deliver its future cost per seat target:
• Leveraging increasingly large positions in our airports. Through our size, we are able to drive economies
of scale from long-term deals with airport owners and operators, as well as with ground handling agents
at those airports. We are now in our third year of a seven-year contract with Gatwick airport, as the
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Company Overview
largest operator at the airport, and will be consolidating our position into one terminal in 2017 to enhance
our operational efficiency. Similarly, we are the largest airline at Luton airport, where we are in year three
of a ten-year contract. As we grow our positions in new bases such as Amsterdam and Venice we will
benefit from volume-related pricing agreements. In ground handling we annualised the benefit of our
contract in Italy and saw savings from our growth in airports in the UK, Netherlands and Germany. We
expect to agree a number of new airport and ground handling contracts in 2017 and 2018.
• Continue to leverage our scale in maintenance. Our new component support arrangement, which
started in October 2015, combined with other parts and heavy maintenance contracts, delivered savings
of around £40 million during the year. This was supported by better distribution of parts across the
network to enable faster repairs to aircraft. We have also begun using predictive analysis with the target
to reduce parts failures and improve aircraft reliability and utilisation.
• Tackling disruption. To control costs of strikes, airport congestion and aircraft unavailability to the
business, we are investing some of our cost savings to increase resilience in our operations, including
more flexibility in the network. We are also implementing improvements to rosters and scheduling to
improve fatigue management, better lifestyles for crew as well as increase our ability to recruit and retain
future talent. This will deliver passenger benefits and longer-term cost improvements.
• Organisational review. Although easyJet is not encumbered with the significant historic costs of a legacy
carrier (e.g. expensive pension arrangements) we are reviewing our structure and ways of working to
enable easyJet to better deliver on our core strengths of our network, delivering for our customers, data
and digital and maintaining our relative cost advantage. We expect this to result in a simpler, more
efficient organisation and will deliver meaningful annualized savings once implemented. Further
information on this will be provided throughout the 2017 financial year.
• Efficient fleet management. We operate an exclusively Airbus A320 family fleet. This delivers
operational flexibility as well as efficiencies in engineering and maintenance, crew, ownership and fuel. As
the second largest operator of Airbus A320 family aircraft in the world we also benefit from significant
economies of scale on acquisition. Between 2016 and 2021 we will derive a major benefit from up-
gauging our fleet, from a majority 156-seat A319 composition to a fleet that is over 70% 186-seat A320s.
The 186-seat A320neo aircraft are expected to have a 13% to 14% cost per seat benefit compared to the
156-seat A319s.
As indicated in the 6 October 2016 trading update, EasyJet expects to incur a number of non-headline
costs during the 2017 financial year. These costs will be separately disclosed as non-headline profit
before tax items:
• As a result of the UK’s referendum vote to leave the European Union, easyJet plans to establish an Air
Operator Certificate (AOC) in another EU member state. This will secure the flying rights of the 30% of
our network that remains wholly within and between EU states, excluding the UK. This one-off cost is
expected to total around £10 million over two years with up to £5 million incurred in the 2017 financial
year. The primary driver of the cost is the re-registering of aircraft in an EU AOC jurisdiction.
• We are planning to enter into a sale and leaseback arrangement for 10 aircraft which is expected to take
place in early December 2016. Due to the age of the selected aircraft at the time of this transaction and
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Company Overview
maintenance provision accounting, easyJet expects to incur a one-off, non-cash charge of approximately
£20 million.
• The expense associated with implementing the Organisational Review in the 2017 financial year.
Further details will be provided throughout 2017, however any costs associated with that will be targeting
a six to nine month payback.
easyJet will continue to relentlessly focus on lean cost control. Our cost saving programme will build on
the strong momentum from 2016, leveraging our increasing scale and reviewing our cost management
down to the most granular level.
3. Customer and operational excellence
easyJet’s strong operational and cost performance is built around ensuring aircraft depart and arrive on
time. This minimises disruption costs and improves customer satisfaction and repeat purchases, which in
turn increases revenue.
Disruption due to air traffic and other strikes in Europe, as well as severe weather and runway closures at
Gatwick airport, has severely impacted easyJet’s performance during the year. During the year, easyJet
cancelled 3,268 flights (2015: 2,637) and on-time performance was 77% across the network, a decrease
of three percentage points from 2015. Given the level of disruption this is a resilient performance and
excluding the UK, which was disproportionately affected, on-time performance was 80%.
To secure better on-time performance easyJet has set up a taskforce to focus on the following main
areas:
• Reduce the number of events due to technical issues, using predictive maintenance and enhanced parts
management and distribution.
• Improve disruption management through better processes and communication with our customers as
well as using technology to reduce cost and improve effectiveness.
• Influence structural improvements through discussions with airports, national Governments and the EU.
Our Gatwick North Terminal programme is already driving operational and customer benefits. The
consolidation process will complete in January 2017 and total operational cost savings are anticipated of
around £5 million. The auto-bag drop area, the biggest in the world, has now processed three million
bags since it opened last October and we have added greater functionality to collect payment for
additional or excess charges for luggage. 97% of our customers now wait less than five minutes to go
through the bag drop experience which has improved customer satisfaction. We are now rolling out our
“customer-host assist” that is expected to drive lower cost and greater customer satisfaction primarily
through mobile-based functionality to self-serve.
4. Data and digital
A core part of easyJet’s strategy is the implementation of its wider digital strategy. This includes
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Company Overview
leveraging data and easyJet’s digital platforms to support its network, customer focus and operational
excellence by enhancing its customer relationship management capabilities. These tools help build
customer loyalty and drive revenue growth. easyJet’s increasingly sophisticated use of data will enable it
to make travel easy and affordable in the long-term.
Loyalty and data
In the last year 74% of our seats were booked by returning customers. We have seen a strong increase in
customer loyalty in our core markets, with returning customers in the UK increasing by 9%, France by
11%, Switzerland by 11% and Amsterdam by 20%. easyJet’s marketable customers have now reached
over 26 million, up 5%, providing further potential for growth.
Following its launch earlier this year, Flight Club has now been successfully rolled out to our most
valuable flyers, as identified through our customer database. We have seen a 14% uplift in retention and
32% uplift in CSAT amongst our Flight Club members. At the same time, easyJet Plus membership has
grown by 40% following successful campaigns across our digital channels and Customer Relationship
Management (CRM) programme. Flight Club aims to recognise and retain our high-value and loyal
customers with a scheme that makes travel with easyJet even easier. Very different to legacy frequent
flyer programs, which are highly expensive and complex, Flight Club makes the simple things even easier
for our customers. The programme offers a range of benefits such as free name changes, free booking
changes and a low price promise, all reinforced by a dedicated customer support team.
Our CRM enables our customers to benefit from increasing levels of personalisation across multiple
channels, with examples such as saved passport details, targeted marketing campaigns via email and
text message, and bespoke offers from our affiliate partners. The user experience has been further
developed over the year, with greater ease of interaction on the website and mobile and optimised
layouts and design.
Innovation and digital leadership
Our digital platform is a key point of differentiation from our competitors. We believe that we have
significant advantages in the capability of our web platform and our mobile offering. Our award winning
App has now been downloaded 18.3 million times, an increase of 30% on last year. 20% of bookings are
now on mobile, with ApplePay a significant step forward this year. Passengers are also increasingly using
mobile boarding passes, which has increased 63% year-on-year. Enhancements like these add to the
customer experience and drive customer loyalty, as well as driving our cost advantage.
Since the year end easyJet has also signed a five-year contract with Founders Factory, the corporate
backed accelerator and incubator. The partnership will create value for easyJet and our passengers by
putting disruptive thinking at the centre of our digital strategy, helping us to explore opportunities for
advanced TravelTech services that will help us to keep making travel easy and affordable.
We will continue investing substantially in our digital capability, building on our success in enhancing the
digital customer interface. The rollout of our new commercial platform is under way with live new
homepages featuring an innovative flight search and low-fare finder tool. Full rollout is expected during
Q2 2017. The primary objective is to give us significantly better flexibility and capability, specifically
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Company Overview
improving our ability to offer customers bespoke, attractive options.
The combination of increasingly insightful customer knowledge and our digital programme offers
increasing amounts of personalisation, tailoring booking journeys based on previous behaviour. This is
expected to drive higher footfall and conversion rates, as well as higher attachment rates for a wider
range of ancillary partners. It will also enable greater self-management capability through the entire
journey chain, from booking to check-in, through the airport and in the event of disruption.
5. Grow revenue
easyJet has driven its leading customer and digital proposition through constant innovation and by
listening to its passengers, focusing on market demand and offering value.
Business passengers
Performance for the year has been encouraging with continued growth in business passenger numbers,
and further investment in how we reach and interact with our corporate customers.
We have continued to target business passengers, growing the number of passengers by 6% to 12.5
million, with September 2016 a record month for easyJet. We also signed 137 corporate agreements over
the year, representing a 25% increase against last year, serving to demonstrate the significant growth
potential for business passengers. There has also been a growth in business-specific fares throughout
the year with a 14% increase in Flexi fares, which carry a greater yield premium.
Our combination of using primary airports in large economic markets, alongside high frequencies and
attractive flight timings, makes easyJet a logical choice for business passengers. We are focused on
providing a bespoke business offering through distribution platforms, Travel Management Companies and
direct to small and medium-sized enterprises. Growth in Global Distribution Systems (GDS) volume
continued to drive revenue and channel movement from web bookings to GDS within the travel
management company partners. The recent negotiations across our GDS partners extended our
agreements with Amadeus, Sabre and Travelport for an additional term. Developments across our Self-
Booking Tool partners have seen a 16% increase in bookings due to the lower fees applicable and
customised set-up for our corporate accounts.
easyJet has recently won Business Traveller Magazine's “Best Low-Cost Carrier” for the 14th successive
year. easyJet continues to see opportunities to sell its business product across Europe and we continue
to strengthen our corporate sales capability through a new market, customer and industry structure.
New revenue streams
Non-seat revenue has performed strongly, increasing by 17%, offsetting pressure on ticket yields from the
external environment.
easyJet has a programme to develop new revenue streams as well as enhancing existing revenue
streams, leveraging its attributes of a primary airport-focused network, cost focus and track record of
innovation. We are exploring new distribution channels, partner agreements and structures such as
connectivity with other suitable airlines. Recent examples have been:
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easyJet Plc
Company Overview
• Earlier Flight – a mobile app-only proposition, targeting customers who may wish to switch flights at
short notice on the day of travel. This flexibility is offered to customers for just £15 and capitalises on the
scale of our mobile app use when customers are on the move.
• In-flight – our investment continues to pay off with revenue growth of over 30% in the last 12 months.
This year saw the introduction of pre-purchased in-flight vouchers, scaled through our targeted CRM
programme.
6. The best people

easyJet is passionate about its people and we believe they set us apart. We believe that our customer-
facing employees are the very best in the industry and contribute significantly to the positive experience
that our passengers enjoy, leading to increased loyalty and repeat business.
It is our people who continue to deliver the business’ strategy and will drive our future success. We
continue to focus on recruiting the right people, helping them to understand easyJet’s values and their
role in the business and then giving them the tools to develop a high-performance culture.
easyJet’s new Academy at Gatwick demonstrates our commitment to the development of our staff,
providing a world-class training facility comprising of classrooms, cabin simulator, evacuation slide and
fire training rig. The centre is an investment in our people, fulfilling easyJet's expected training needs to
2020.
We recruited during the year to help support our growth, adding over 360 pilots and 1,400 cabin crew, as
well as 280 people within the management, administration, engineering and maintenance departments. In
line with our target, 35% of positions were filled by internal candidates. Retention rates remain good with
employee turnover at 9.0%, while engagement scores remain high at 76%.
Increasing diversity
easyJet’s launch of the Amy Johnson Flying Initiative, in partnership with the British Women Pilots
Association, is part of our long-term strategy to increase the number of our female pilots. easyJet set an
initial target to double the proportion of its new entrant pilots who are female, from under 6% in 2015 to
12% over a two-year period. easyJet was able to meet its target within one year. Other activities to
increase the number of female pilots include working with easyJet’s pilot training providers to attract more
women to apply for its cadet programme and working in partnership with organisations which promote
female take-up of STEM (Science, Technology, Engineering and Maths) subjects and women in
business.
Fleet
easyJet has a young fleet of Airbus A320-family aircraft, secured on very competitive terms which were
most recently updated in our framework agreement with Airbus in 2013.
easyJet continues to maintain flexibility in its fleet planning arrangements to ensure that it can increase or
decrease capacity deployed, subject to the opportunities available and prevailing economic conditions.
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easyJet Plc
Company Overview
easyJet uses the flexibility it has to move aircraft between routes and markets to improve returns. This
flexibility is achieved through a number of ways that impact both the timing and scale of capacity
deployment: new aircraft orders can be deferred, leases may be extended or not renewed, aircraft may
be sold or utilisation can be reduced at times of low demand. easyJet continues to work with its suppliers
to enhance its fleet flexibility.
easyJet’s total fleet as at 30 September 2016 comprised 257 aircraft (2015: 241 aircraft), split between
156-seat Airbus A319s, 180-seat A320s and, since May 2016, 186-seat A320s. Over the next five years
we will reduce cost by changing the fleet mix and ownership structure. We took delivery of 20 A320
aircraft in the year ending 30 September 2016, which provide a per seat cost saving of 7% to 8%
compared to the A319 through economies of scale, efficiencies in crew, ownership, fuel and
maintenance. Four A319 aircraft were returned to lessors and the average age of the fleet increased to
6.7 years (2015: 6.2 years). The larger A320 aircraft has been introduced over the last few years with
increasing cost per seat benefits. The increase in the proportion of A320s and the increase in overall seat
density delivered a 40 pence per seat cost saving in 2016.
Our objective is always to optimise our return on capital employed through the allocation of aircraft and
capacity across the network, regularly moving them to airports and routes with better opportunities. In
February we closed our base at Rome Fiumicino and redistributed the eight base aircraft to other bases
in Italy, including the opening of a new base in Venice. Every year we also churn routes that have not
reached their targeted objectives. These actions reiterate our focus on returns and will increase the return
on capital employed of the Company as a whole, as we have done regularly in the past and will do so in
the future.
We continue to add frequencies and commit to basing aircraft around the network in scale. In 2016 we
broadly maintained our asset utilisation across the network, at an average of just under 11 block hours
per day (2015: 11 hours).
Delivering shareholder return
easyJet’s robust operational model and competitive position enable the Company to remain resilient in
turbulent markets. With a strong balance sheet and cash flow generated from operations of over £700
million, easyJet comfortably has met its investment goals while maintaining its positive net cash position.
easyJet ended the year with net cash of £213 million.
Return on capital employed declined to 14.6% from 22.2% last year, as the combined impact of severe
disruption, external events and increased capacity impacted yields.
As we look forward, we expect that our ability to grow revenue and the renewed focus on cost will deliver
strong earnings momentum and significant returns to shareholders.
easyJet‘s proposed ordinary dividend per share of 53.8 pence is expected to be paid on 17 March 2017,
with a record date of 24 February 2017, subject to shareholder approval at the Annual General Meeting.
Hedging positions
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easyJet Plc
Company Overview
easyJet operates under a clear set of treasury policies agreed by the Board. The aim of easyJet’s
hedging policy is to reduce short-term earnings volatility. Therefore, easyJet hedges forward, on a rolling
basis, between 65% and 85% of the next 12 months' anticipated fuel and currency exposures and
between 45% and 65% of the following 12 months' anticipated requirements. Specific decisions may
require consideration of a longer-term approach. Treasury strategies and actions will be driven by the
need to meet treasury, financial and corporate objectives.
OUTLOOK
We remain confident in our ability to deliver long-term growth and returns for shareholders as we continue
to execute our strategy. For the six months to 31 March 2017 capacity is expected to increase by 9% as
we invest in markets and routes that will build on our resilient network, enhance our customer proposition
and underpin returns for the long-term. For the year to 30 September 2017 we currently plan to increase
capacity by up to 9%.
Based on current market fuel prices we expect the unit Fuel bill to decline by between £245 million and
£275 million during the year to 30 September 2017. As you would expect, passengers will continue to
benefit from the lower fuel cost and therefore we expect a mid to high single digit decline in revenue per
seat at constant currency during the first half of the year.
We are targeting a decline in total cost per seat at constant currency including fuel for the full year of
approximately 3%, based on jet fuel prices within a range of $400 metric tonne to $520 metric tonne. Cost
per seat excluding fuel and at constant currency is targeted to increase by approximately 1% for the full
year, at normal levels of disruption, excluding non-headline items. These are as follows:
• A non-cash, one-off £20 million charge as a result of the planned sale and leaseback of 10 A319 aircraft
in December. This charge reflects a maintenance provision catch up and an accounting loss due to the
construct of the transaction. We expect the transaction to result in a cash inflow of circa US$140 million.
• One-off costs relating to the set-up of an EU AOC, which are expected to be up to £5 million in the 2017
financial year and around £10 million in total, mostly driven by the costs to re-register aircraft.
• The one-off cost associated with our organisational review, which we expect to result in a simpler, more
efficient organisation and which will deliver meaningful annualized savings when implemented. We will
provide further details in due course, however any costs associated with this programme will be targeting
a circa six to nine month payback.
While we remain committed to our target of flat cost per seat excluding fuel at constant currency in the
2019 financial year versus 2015 at normal levels of disruption, this year's expected increase reflects our
investment in resilience, reducing disruption and improving customer experience, which will contribute to
longer term cost efficiency. We may make further investments during the year if we believe the benefits of
doing so are sure to deliver a stronger, more efficient operation.
Exchange rate movements are likely to have an adverse impact of approximately £70 million in the first
half year compared to the six months to 31 March 2016 and £90 million for the 12 months to 30
September 2017 compared to the 12 months to 30 September 2016.
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easyJet Plc
Company Overview
We continue to see significant longer term opportunities to grow revenue, profit and shareholder returns.
We expect market demand to remain strong and easyJet’s unique model and strategy are well positioned
to capture significant value from favourable trends in both leisure and business markets.
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easyJet Plc
Company Overview
Locations And Subsidaries
LOCATIONS AND SUBSIDARIES
Head Office
easyJet Plc
Hangar 89
London Luton Airport
Luton
Bedfordshire
Luton
Bedfordshire
GBR
www.easyjet.com
Other Locations and Subsidiaries
Dawn Licensing Holdings Limited Dawn Licensing Limited

MLT
MLT
easyJet Airline Company Ltd easyJet Leasing Limited
Hangar 89, London Luton Airport Cayman Islands
Luton Cayman Islands
Bedfordshire GBR
Luton
Bedfordshire
GBR
Phone:44 843 1045000
www.easyjet.com
easyJet Sterling Limited easyJet Switzerland S.A.
Cayman Islands 5 Route de L'Aeroport
Cayman Islands Geneva
GBR Geneva
CHE
www.easyjet.com
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easyJet Plc
Company Overview
Financial Overview
FINANCIAL OVERVIEW
Summarized Statement
*Note: Eliminations not included, all figures in Million except per share data.
Parameters Currency 2013 2014 2015 2016 2017

Income Statements
Total Revenue GBP 4,258.00 4,527.00 4,686.00 4,669.00 5,047.00
Gross Profit GBP 1,490.00 1,620.00 1,800.00 1,692.00 1,834.00
Operating Income GBP 497.00 581.00 688.00 510.00 404.00
Net Income GBP 398.00 450.00 548.00 437.00 305.00
Diluted Normalized EPS GBP 1.00 1.13 1.38 1.11 0.78
Balance Sheet
Total Current Assets GBP 1,448.00 1,261.00 1,279.00 1,442.00 1,734.00
Total Assets GBP 4,412.00 4,482.00 4,828.00 5,484.00 5,971.00
Total Current Liabilities GBP 1,379.00 1,420.00 1,768.00 1,569.00 1,670.00
Total Liabilities GBP 2,395.00 2,310.00 2,579.00 2,790.00 3,169.00
Total Equity GBP 2,017.00 2,172.00 2,249.00 2,694.00 2,802.00
Total Common Shares GBP 397.00 397.00 397.21 397.21 397.21
Outstanding
Cash Flow
Cash from Operating Activities GBP 616.00 394.00 609.00 387.00 663.00
Cash from Investing Activities GBP -416.00 -445.00 -255.00 -541.00 -878.00
Cash from Financing Activities GBP 197.00 -526.00 -161.00 123.00 214.00
Net Change in Cash GBP 368.00 -589.00 226.00 64.00 -3.00
Detailed Statement
*Note: Eliminations not included, all figures in Million except per share data.
Parameters Currency 2013 2014 2015 2016 2017

Income Statements
Revenue GBP 4,258.00 4,527.00 4,686.00 4,669.00 5,047.00
Total Revenue GBP 4,258.00 4,527.00 4,686.00 4,669.00 5,047.00
Cost of Revenue, Total GBP 2,768.00 2,907.00 2,886.00 2,977.00 3,213.00
Gross Profit GBP 1,490.00 1,620.00 1,800.00 1,692.00 1,834.00
Selling/ General/ Admin. GBP 767.00 794.00 836.00 886.00 1,041.00
Expenses, Total
Other Operating Expenses, Total GBP 226.00 245.00 276.00 296.00 389.00
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easyJet Plc
Company Overview
Total Operating Expense GBP 3,761.00 3,946.00 3,998.00 4,159.00 4,643.00

Operating Income GBP 497.00 581.00 688.00 510.00 404.00
Other, Net GBP 0.00 0.00 -1.00 -1.00 -5.00
Net Income Before Taxes GBP 478.00 581.00 686.00 507.00 385.00
Provision for Income Taxes GBP 80.00 131.00 138.00 70.00 80.00
Net Income After Taxes GBP 398.00 450.00 548.00 437.00 305.00
Net Income Before Extra. Items GBP 398.00 450.00 548.00 437.00 305.00
Net Income GBP 398.00 450.00 548.00 437.00 305.00
Income Available to Com Excl GBP 398.00 450.00 548.00 437.00 305.00
ExtraOrd
Income Available to Com Incl GBP 398.00 450.00 548.00 437.00 305.00
ExtraOrd
Dilution Adjustment GBP 0.00 0.00 0.00 0.00 0.00
Diluted Net Income GBP 398.00 450.00 548.00 437.00 305.00
Diluted Weighted Average Shares GBP 398.00 398.00 397.00 397.00 397.00
Diluted EPS Excluding ExtraOrd GBP 1.00 1.13 1.38 1.10 0.77
Items
Diluted Normalized EPS GBP 1.00 1.13 1.38 1.11 0.78
DPS - Common Stock Primary GBP 0.34 0.45 0.55 0.54 0.00
Issue
Balance Sheet
Cash & Equivalents GBP 1,237.00 985.00 939.00 969.00 1,328.00
Cash and Short Term GBP 1,237.00 985.00 939.00 969.00 1,328.00
Investments
Accounts Receivable - Trade, Net GBP 92.00 58.00 58.00 205.00 275.00
Total Receivables, Net GBP 130.00 110.00 120.00 205.00 275.00
Prepaid Expenses GBP 64.00 90.00 86.00 0.00 0.00
Other Current Assets, Total GBP 17.00 76.00 134.00 268.00 131.00
Total Current Assets GBP 1,448.00 1,261.00 1,279.00 1,442.00 1,734.00
Property/ Plant/ Equipment, Total GBP 2,705.00 3,071.00 3,528.00 0.00 0.00
- Gross
Accumulated Depreciation, Total GBP -425.00 -529.00 -651.00 0.00 0.00
Property/ Plant/ Equipment, Total GBP 2,280.00 2,542.00 2,877.00 3,252.00 3,525.00
- Net
Goodwill, Net GBP 365.00 365.00 365.00 365.00 365.00
Intangibles, Net GBP 102.00 113.00 127.00 152.00 179.00
Note Receivable - Long Term GBP 7.00 4.00 0.00 0.00 0.00
Other Long Term Assets, Total GBP 210.00 197.00 180.00 273.00 168.00
Total Assets GBP 4,412.00 4,482.00 4,828.00 5,484.00 5,971.00
Accounts Payable GBP 117.00 134.00 101.00 565.00 714.00
Accrued Expenses GBP 365.00 329.00 326.00 0.00 0.00
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easyJet Plc
Company Overview
Notes Payable/ Short Term Debt GBP 0.00 0.00 0.00 0.00 0.00
Current Port. of LT Debt/ Capital GBP 87.00 104.00 194.00 92.00 8.00
Leases
Other Current liabilities, Total GBP 810.00 853.00 1,147.00 912.00 948.00
Total Current Liabilities GBP 1,379.00 1,420.00 1,768.00 1,569.00 1,670.00
Long Term Debt GBP 406.00 299.00 228.00 664.00 963.00
Capital Lease Obligations GBP 186.00 173.00 94.00 0.00 0.00
Total Long Term Debt GBP 592.00 472.00 322.00 664.00 963.00
Total Debt GBP 679.00 576.00 516.00 756.00 971.00
Deferred Income Tax GBP 144.00 186.00 176.00 237.00 249.00
Other Liabilities, Total GBP 280.00 232.00 313.00 320.00 287.00
Total Liabilities GBP 2,395.00 2,310.00 2,579.00 2,790.00 3,169.00
Common Stock, Total GBP 108.00 108.00 108.00 108.00 108.00
Additional Paid-In Capital GBP 657.00 658.00 659.00 659.00 659.00
Retained Earnings (Accumulated GBP 1,306.00 1,422.00 1,720.00 1,902.00 1,996.00
Deficit)
Other Equity, Total GBP -54.00 -16.00 -238.00 25.00 39.00
Total Equity GBP 2,017.00 2,172.00 2,249.00 2,694.00 2,802.00
Total Liabilities & Shareholders' GBP 4,412.00 4,482.00 4,828.00 5,484.00 5,971.00
Equity
Total Common Shares GBP 397.00 397.00 397.21 397.21 397.21
Outstanding
Cash Flow
Net Income/ Starting Line GBP 497.00 581.00 688.00 498.00 404.00
Depreciation/ Depletion GBP 102.00 106.00 125.00 157.00 181.00
Amortization GBP 10.00 12.00 13.00 12.00 14.00
Non-Cash Items GBP 18.00 25.00 64.00 -36.00 193.00
Changes in Working Capital GBP -11.00 -330.00 -281.00 -244.00 -129.00
Cash from Operating Activities GBP 616.00 394.00 609.00 387.00 663.00
Capital Expenditures GBP -421.00 -449.00 -536.00 -586.00 -630.00
Other Investing Cash Flow Items, GBP 5.00 4.00 281.00 45.00 -248.00
Total
Cash from Investing Activities GBP -416.00 -445.00 -255.00 -541.00 -878.00
Financing Cash Flow Items GBP 505.00 -358.00 21.00 6.00 0.00
Issuance (Retirement) of Stock, GBP -25.00 -56.00 -91.00 -22.00 -10.00
Net
Issuance (Retirement) of Debt, GBP -283.00 -112.00 -91.00 139.00 224.00
Net
Cash from Financing Activities GBP 197.00 -526.00 -161.00 123.00 214.00
Foreign Exchange Effects GBP -29.00 -12.00 33.00 95.00 -2.00
Net Change in Cash GBP 368.00 -589.00 226.00 64.00 -3.00
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easyJet Plc
Company Overview
Cash Interest Paid GBP 0.00 0.00 0.00 0.00 0.00

Cash Taxes Paid GBP 65.00 96.00 98.00 99.00 51.00
Summarized Interim Statement
Income Statements Currency Mar-2016 (6 Sep-2016 (6 Mar-2017 (6 Sep-2017 (6

Months) Months) Months) Months)
Total Revenue GBP 1,771.00 2,898.00 1,827.00 3,220.00
Gross Profit GBP 532.00 1,160.00 438.00 1,396.00
Operating Income GBP -17.00 527.00 -220.00 624.00
Net Income GBP -15.00 452.00 -192.00 497.00
Diluted Normalized EPS GBP -0.04 1.13 -0.49 1.24
Balance Sheet Currency Mar-2016 Sep-2016 Mar-2017 Sep-2017
Total Current Assets GBP 1,440.00 1,442.00 1,803.00 1,734.00
Total Assets GBP 5,255.00 5,484.00 5,861.00 5,971.00
Total Current Liabilities GBP 2,129.00 1,569.00 2,094.00 1,670.00
Total Liabilities GBP 3,303.00 2,790.00 3,521.00 3,169.00
Total Equity GBP 1,952.00 2,694.00 2,340.00 2,802.00
Total Common Shares Outstanding GBP 397.21 397.21 397.21 397.21
Cash Flow Currency Mar-2016 (6 Sep-2016 Mar-2017 (6 Sep-2017
Months) (12 Months) Months) (12 Months)
Cash from Operating Activities GBP 186.00 387.00 294.00 663.00
Cash from Investing Activities GBP -443.00 -541.00 -681.00 -878.00
Cash from Financing Activities GBP 205.00 123.00 338.00 214.00
Net Change in Cash GBP -15.00 64.00 -41.00 -3.00
Detailed Interim Statement
Income Statements Currency Mar-2016 (6 Sep-2016 (6 Mar-2017 (6 Sep-2017 (6

Months) Months) Months) Months)
Total Revenue GBP 1,771.00 2,898.00 1,827.00 3,220.00
Cost of Revenue, Total GBP 1,239.00 1,738.00 1,389.00 1,824.00
Gross Profit GBP 532.00 1,160.00 438.00 1,396.00
Total Operating Expense GBP 1,788.00 2,371.00 2,047.00 2,596.00
Operating Income GBP -17.00 527.00 -220.00 624.00
Net Income GBP -15.00 452.00 -192.00 497.00
Diluted Normalized EPS GBP -0.04 1.13 -0.49 1.24
Revenue GBP 1,771.00 2,898.00 1,827.00 3,220.00
Selling/ General/ Admin. Expenses, GBP 412.00 474.00 485.00 556.00
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easyJet Plc
Company Overview
Total
Other Operating Expenses, Total GBP 137.00 159.00 173.00 216.00
Net Income Before Taxes GBP -18.00 525.00 -236.00 621.00
Provision for Income Taxes GBP -3.00 73.00 -44.00 124.00
Net Income After Taxes GBP -15.00 452.00 -192.00 497.00
Net Income Before Extra. Items GBP -15.00 452.00 -192.00 497.00
Income Available to Com Excl GBP -15.00 452.00 -192.00 497.00
ExtraOrd
Income Available to Com Incl GBP -15.00 452.00 -192.00 497.00
ExtraOrd
Diluted Net Income GBP -15.00 452.00 -192.00 497.00
Diluted EPS Excluding ExtraOrd Items GBP -0.04 1.13 -0.49 1.24
DPS - Common Stock Primary Issue GBP 0.00 0.54 0.00 0.00
Diluted Weighted Average Shares GBP 394.00 400.00 393.00 401.00
Balance Sheet Currency Mar-2016 Sep-2016 Mar-2017 Sep-2017
Total Current Assets GBP 1,440.00 1,442.00 1,803.00 1,734.00
Total Assets GBP 5,255.00 5,484.00 5,861.00 5,971.00
Total Current Liabilities GBP 2,129.00 1,569.00 2,094.00 1,670.00
Total Liabilities GBP 3,303.00 2,790.00 3,521.00 3,169.00
Total Equity GBP 1,952.00 2,694.00 2,340.00 2,802.00
Cash & Equivalents GBP 1,057.00 969.00 1,308.00 1,328.00
Cash and Short Term Investments GBP 1,057.00 969.00 1,308.00 1,328.00
Accounts Receivable - Trade, Net GBP 233.00 205.00 238.00 275.00
Total Receivables, Net GBP 233.00 205.00 238.00 275.00
Other Current Assets, Total GBP 150.00 268.00 257.00 131.00
Property/ Plant/ Equipment, Total - GBP 3,089.00 3,252.00 3,314.00 3,525.00
Net
Goodwill, Net GBP 365.00 365.00 365.00 365.00
Intangibles, Net GBP 136.00 152.00 168.00 179.00
Other Long Term Assets, Total GBP 225.00 273.00 211.00 168.00
Accounts Payable GBP 438.00 565.00 511.00 714.00
Notes Payable/ Short Term Debt GBP 0.00 0.00 0.00 0.00
Current Port. of LT Debt/ Capital GBP 114.00 92.00 9.00 8.00
Leases
Other Current liabilities, Total GBP 1,577.00 912.00 1,574.00 948.00
Long Term Debt GBP 647.00 664.00 946.00 963.00
Total Long Term Debt GBP 647.00 664.00 946.00 963.00
Total Debt GBP 761.00 756.00 955.00 971.00
Deferred Income Tax GBP 163.00 237.00 204.00 249.00
Other Liabilities, Total GBP 364.00 320.00 277.00 287.00
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Company Overview
Common Stock, Total GBP 108.00 108.00 108.00 108.00

Additional Paid-In Capital GBP 659.00 659.00 659.00 659.00
Retained Earnings (Accumulated GBP 1,478.00 1,902.00 1,500.00 1,996.00
Deficit)
Other Equity, Total GBP -293.00 25.00 73.00 39.00
Total Liabilities & Shareholders' Equity GBP 5,255.00 5,484.00 5,861.00 5,971.00
Total Common Shares Outstanding GBP 397.21 397.21 397.21 397.21
Cash Flow Currency Mar-2016 (6 Sep-2016 Mar-2017 (6 Sep-2017
Months) (12 Months) Months) (12 Months)
Cash from Operating Activities GBP 186.00 387.00 294.00 663.00
Cash from Investing Activities GBP -443.00 -541.00 -681.00 -878.00
Cash from Financing Activities GBP 205.00 123.00 338.00 214.00
Net Change in Cash GBP -15.00 64.00 -41.00 -3.00
Net Income/ Starting Line GBP -17.00 498.00 -220.00 404.00
Depreciation/ Depletion GBP 74.00 157.00 85.00 181.00
Amortization GBP 6.00 12.00 7.00 14.00
Non-Cash Items GBP 470.00 -36.00 756.00 193.00
Cash Taxes Paid GBP 45.00 99.00 28.00 51.00
Changes in Working Capital GBP -347.00 -244.00 -334.00 -129.00
Capital Expenditures GBP -314.00 -586.00 -302.00 -630.00
Other Investing Cash Flow Items, GBP -129.00 45.00 -379.00 -248.00
Total
Financing Cash Flow Items GBP 1.00 6.00 115.00 0.00
Issuance (Retirement) of Stock, Net GBP -11.00 -22.00 -6.00 -10.00
Issuance (Retirement) of Debt, Net GBP 215.00 139.00 229.00 224.00
Foreign Exchange Effects GBP 37.00 95.00 8.00 -2.00
Capital Market Ratios
Key Ratios November 28,2017

P/E (Price/Earnings) Ratio 12.55
EV/EBITDA (Enterprise Value/Earnings Before Interest, Taxes, 7.54
Depreciation and Amortization)
Enterprise Value/Sales 1.07
Enterprise Value/Operating Profit 10.06
Enterprise Value/Total Assets 0.91
Dividend Yield 0.04
Market Cap 5,362.31
Enterprise Value 5,009.31
easyJet Plc Page 55

© MarketLine
easyJet Plc
Company Overview
Note: The above ratios are based on

the share price as of November
28,2017, they are absolute numbers
Annual Ratios
Key Ratios Unit Currency 2012 2013 2014 2015 2016

Growth Ratios
Sales Growth % 11.65 10.48 6.32 3.51 -0.36
Operating Income Growth % 23.05 50.15 16.90 18.42 -27.62
EBITDA Growth % 24.85 39.81 18.47 17.88 -19.42
Net Income Growth % 13.33 56.08 13.07 21.78 -22.08
EPS Growth % 19.20 48.00 12.68 22.68 -21.72
Working Capital Growth % -88.77 9.52 -330.43 207.55 -74.03
Equity Ratios
EPS (Earnings per Share) USD 0.67 1.00 1.13 1.38 1.08
Dividend per Share USD 0.24 0.34 0.45 0.55 0.54
Dividend Cover Absolute 2.82 2.99 2.49 2.50 2.00
Book Value per Share USD 4.53 5.08 5.47 5.66 6.78
Cash Value per Share USD 2.23 3.12 2.48 2.36 2.44
Profitability Ratios
Gross Margin % 35.68 37.62 38.39 41.36 39.60
Operating Margin % 8.59 11.67 12.83 14.68 10.67
Net Profit Margin % 6.62 9.35 9.94 11.69 9.15
Profit Markup % 55.47 60.32 62.32 70.52 65.57
PBT Margin (Profit Before Tax) % 8.23 11.23 12.83 14.64 10.60
Return on Equity % 14.21 19.73 20.72 24.37 15.85
Return on Capital Employed % 10.92 16.39 18.97 22.48 12.72
Return on Assets % 5.94 9.02 10.04 11.35 7.79
Return on Fixed Assets % 11.15 16.77 18.04 19.39 12.32
Return on Working Capital % 0.00 0.00 47.95 525.40 720.29
Cost Ratios
Operating Costs (% of Sales) % 91.41 88.33 87.17 85.32 89.33
Administration Costs (% of Sales) % 19.17 18.01 17.54 17.84 18.98
easyJet Plc Page 56

© MarketLine
easyJet Plc
Company Overview
Liquidity Ratios
Current Ratio Absolute 1.05 1.05 0.89 0.72 0.92
Quick Ratio Absolute 1.05 1.05 0.89 0.72 0.92
Cash Ratio Absolute 0.70 0.90 0.69 0.53 0.62
Leverage Ratios
Debt to Equity Ratio Absolute 0.53 0.34 0.27 0.23 0.28
Net Debt to Equity Absolute 0.04 -0.28 -0.19 -0.19 -0.08
Debt to Capital Ratio Absolute 0.32 0.22 0.19 0.17 0.19
Efficiency Ratios
Asset Turnover Absolute 0.90 0.97 1.01 0.97 0.85
Fixed Asset Turnover Absolute 1.61 1.87 1.78 1.63 1.44
Current Asset Turnover Absolute 2.90 2.94 3.59 3.66 3.24
Capital Employed Turnover Absolute 2.15 2.11 2.08 2.08 1.73
Working Capital Turnover Absolute 0.00 0.00 6.15 61.17 61.71
Revenue per Employee USD 0.00 0.00 0.00 0.00 454,492.36
Net Income per Employee USD 0.00 0.00 0.00 0.00 41,565.27
Capex to Sales % 10.17 9.89 9.92 11.44 12.55
R&D to Sales % 0.00 0.00 0.00 0.00 0.00
Interim Ratios
Key Ratios Currency March September March September Ratio Type

01,2016 01,2016 01,2017 01,2017
EPS (Earnings per GBP 0.00 -0.04 1.12 -0.49 Equity Ratios
Share)
Dividend per Share GBP 0.00 0.00 0.54 0.00 Equity Ratios
Book Value per Share GBP 0.00 4.91 6.78 5.89 Equity Ratios
Current Ratio Absolute 0.00 0.68 0.92 0.86 Liquidity Ratios
easyJet Plc Page 57

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John Carpenter House, John Carpenter Street, London, United Kingdom, EC4Y 0AN
T: +44 (0) 203 377 3042 | F: +44 (0) 870 134 4371 | E: reachus@marketline.com | W: www.marketline.com

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REFERENCE CODE: 2E6ADD86-5D3A-4E9C-A7FE-1CC3DE06A90F

Company Overview ........................................................................................................3

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Head Office easyJet Plc

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In September, L3 Technologies's Commercial Training Solutions (CTS) business chosen by easyJet to

easyJet launched ‘Apple Pay’ for bookings via iOS app.

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EasyJet opened a 2 bay hangar facility at London Gatwick Airport.

easyJet announced a new route from Bristol Airport to Turin.

The company launched its first flight from Manchester to Gibraltar.

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The company launched Apple Pay on Web.

The company added a fourth aircraft to its fleet at the airport.

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easyJet opened its new base at Francisco de Sa Carneiro Airport in Portugal.

easyJet opened new base at Schiphol Airport, Amsterdam.

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The company's inaugural flight to Venice took off.

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Gaulle, Jersey, Newcastle and Strasbourg.

EasyJet agreed on a new 10 year deal with London Luton Airport.

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New Product Approvals

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London Southend Airport.

easyJet announced the launch of route Madrid-Bilbao.

The company launched its new base at London Southend Airport.

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easyJet Flexi was made available on easyJet.com.

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easyJet launched a new service from Bristol to Naples.

easyJet launched a new route between Glasgow and Amsterdam.

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The company launched new base at Madrid's Barajas airport.

The company entered into ski partnership with Iglu.

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The company purchased Stansted-based low-cost airline 'Go'.

easyJet was listed on the London Stock Exchange.

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Name Job Title Board Compensation

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Key Employee Biographies

KEY EMPLOYEE BIOGRAPHIES

Board:Non Executive Board

Board:Non Executive Board

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