Contents

1

about easyJet

2

easyJet company background and history

4

the easyJet fleet of aircraft

5

the easyJet route network

6

easyJet plc – financial performance

7

flying with easyJet

9

easyJet Holidays

10

easyJet Innovation

12

AVOID ash detection project

13

severi satellite and inversion modelling

14

electric green taxiing system (EGTS) project

15

easyJet’s Board & management team

2

About easyJet

headline facts
> over 55m passengers each year across its network

easyJet was founded in 1995 by Sir
Stelios Haji-Ioannou with the vision of creating a customer focused brand that would revolutionise the concept of air travel. More than fifteen years on, easyJet is Europe’s leading airline, and the UK’s largest, carrying over 55m passengers a year.

> UK’s largest airline carrying more than 29m passengers
> leading presence on Europe’s top 100 routes
(EZY 49; BA/ Iberia 43; LH-Swiss 41; RYA 32; AF/KLM 22)
> operates on over 600 routes across over 30 countries
> holds a strong position in key markets: No. 1 in Gatwick, Milan and Geneva
> operates a fleet of over 200 aircraft with an average fleet age of around 4 years > employs over 8,000 people including 2,000 pilots and 4,500 cabin crew
> flies to 44 out of Europe’s 50 largest airports
> 300 million people live within a one hour drive of an easyJet carrier

Making travel easy and affordable easyJet offers fantastic value: On average we fly you 1100km for ₤45 /€50.
That’s cheaper than any other airline which flies to centrally located airports.
18% of easyJet’s passengers are flying on business. 1m more business passengers flew with easyJet in 2011.

3

easyJet company background and history

more than 15 years of continued success
Everything easyJet has done has had an impact.
There is no other airline in the history of modern passenger aviation that has had such an effect on the UK's flight, holiday and travel industry.

1995

> easyJet is founded by Sir Stelios Haji-Ioannou with the vision of creating a customer focused brand that would revolutionise the concept of air travel
> easyJet’s inaugural flights took to the skies in November 1995 flying from Luton to Glasgow and
Edinburgh

1996

> easyJet operates its first wholly owned aircraft
> easyJet starts first European route to Amsterdam. More routes followed that year, including
Barcelona and Nice

1997

> easyJet opens a new UK base at Liverpool

1998

> easyJet ordered 15 brand new Boeing next-generation 737-700 aircraft
> easyJet.com is launched for online bookings – within four years 10 million seats had been sold online 1999

> the very first screening of ITV’s fly-on-the -wall documentary ‘Airline,’ which brought the airline’s operations to millions of UK viewers every week

2000

> easyJet’s flotation on the London Stock exchange took place in 2000 at an offer price of 310p, valuing the Company at £777m. Shortly after, easyJet joins the FTSE 250 list of companies

2001

> London Gatwick became easyJet’s fifth base in 2001 and its expansion plans continued to gather pace into 2002
> Sir Stelios Haji-Ioannou stands down as Chairman in 2002 but maintains his position as a shareholder 2002

> In 2002 easyJet merged with low cost airline "Go" (which had originally been set up by British
Airways) helping to create Europe’s number one air transport network

2004

> easyJet became the first airline to take advantage of the newly-enlarged European Union by starting flights to Hungary and Slovenia

2005

> easyJet takes delivery of its 100th aircraft

2007

> new headquarters open at Hangar 89 at London Luton Airport

2008

> the airline completes its acquisition of GB Airways, a London Gatwick-based airline operating to destinations across Southern Europe and North Africa

4

2009

> By 2009 easyJet is a truly a pan European airline operating over 400 routes with over 175 aircraft in
27 countries.
> For the first time, over 50% of easyJet’s passengers originated from outside the UK.

2010

> easyJet reaches the 500 route mark th > easyJet celebrated the 15 anniversary of the easyJet launch
> easyJet reaffirms its strategy of ‘Turn Europe Orange.’
> July – Carolyn McCall joins easyJet as CEO th > easyJet voted Best Low-Fares Airline for 10 consecutive year at the Business Traveller magazine awards > Launch of flexible fares targeted at business travellers

2011

> Plans to further expand our fleet by confirming an order for 15 additional 15 Airbus A320 aircraft
> February 2011 easyJet carries 50m passengers a year for the first time th > easyJet expands to 30 country by launching a new route to Amman in Jordan
> easyJet records record profits

...and so we arrive at today... ...where the business can boast over 200 aircraft, over 600 routes, operating from over 130 airports, over 30 countries and 23 bases. Annually we look after 55 million passengers and oversee the safe arrival of over 1200 daily departures.
...We’ve recently expanded our network with the opening of four new bases in Southend, Lisbon,
Nice and Toulouse in the Spring of 2012.

5

THE easyJet
Fleet of
Aircraft
Both aircraft types are twin-engined short haul aircraft assembled in Hamburg and
Toulouse. We took delivery of our first A319 in September 2003. The Airbus A319 aircraft are fitted with 156 seats in a single class configuration and operate flights of up to 2400nm. The Airbus A320 offers a similar range but is able to carry 180 passengers. We took delivery of our first easyJet specification A320 in February
2009. Both aircraft types are fitted with
CFM International CFM56-5B5 engines offering up to 23,500 lbs of thrust.

> easyJet operates over 200 aircraft and is Airbus’ largest European customer
> The fleet consists of 166 A319s and 35 A320s
> The airline is the world’s largest A319 operator and Europe’s largest A320 family operator
> easyJet has taken delivery of one aircraft every 14 days since 2003 th > The 200 plane was delivered on 26 May 2011 when easyJet became the world’s youngest and quickest airline to reach a fleet of 200 Airbus aircraft
> easyJet has invested £7 billion in the latest technology to make sure that we operate one of the cleanest, youngest and most fuel efficient fleets in the industry > The average age of our aircraft is around 4 years. This minimises the airline’s environmental impact – and passengers enjoy a modern plane!

6

The easyJet route network

easyJet's combination of convenient airports and wide range of destinations mean it has a broad appeal across different geographies and customer types.
In fact, over half of sales now originate from outside the UK.

7

easyJet plc financial performance

Carolyn McCall, easyJet Chief Executive
“In the first six months of the year easyJet has continued to deliver improvements in customer satisfaction, operational, and financial performance. We have also returned £196 million to our shareholders.
“The economic environment remains uncertain, and the aviation industry faces headwinds such as the recent increase in UK APD. However, easyJet‟s strategy of low fares and our focus on making it easy for our customers, aligned with tight cost management and strictly managed allocation of capital, ensures that easyJet is well positioned to deliver good results for shareholders.”
> Passengers flown grew by 5.4% to 25.2 million. easyJet continued to grow its share of the short-haul business travel market.

Results summary for the six months ended 31 March
2012

> load factor increased by 1.5 percentage points to 86.9%;
> cost per seat excluding fuel rising by 1.5% at constant currency. There was an
£15m reduction in disruption costs as easyJet benefited from the benign winter weather across Europe. There was a strong performance in ground operations where the benefit of further contract renegotiation with ground handlers was a key factor in holding ground operations costs per seat flat year on year.
> easyJet continued to deliver best in class on time performance across the network with arrivals within 15 minutes increasing by 16 percentage points to
89%. The good performance contributed to a 7 percentage point increase in overall customer satisfaction to 85%.
> With nearly half of summer seats now sold, in line with the prior year, the performance of the business continues as outlined in the 26 March 2012 preclose trading update
> Total revenue per seat grew by 11.9% to £50.47, and by 11.2% at constant currency driven by a combination of tighter market capacity, improvements in revenue management, website initiatives and the „europe by easyJet‟ marketing campaign.

Six months ended 31 March 2012

2012

2011

Change %

Passengers (m) 1

25.2

28.1

3.5%

Seats (m)

29.0

28.1

3.5%

Load factor (%) 2

86.9%

85.4%

1.5ppt

Total revenue (£m)

1,465

1266

15.7

Seat revenue (£m)

1,438

1,238

16.2%

Non seat revenue (£m)

27

28

3.6%

Total revenue per seat (£)

50.47

45.11

11.9%

Seat revenue per seat (£)

49.53

44.11

12.3%

8

Non seat revenue per seat (£)

0.94

1.00

(6.0)%

Total revenue per passenger (£)

58.06

52.85

9.9%

Average number of owned / leased aircraft

202.8

195.4

3.8

Average operating aircraft

189.6

180.3

5.1%

Average utilisation (hours per day)

9.9

10.3

3.6%

ASKs (m)

30,785

29,988

2.7%

RPKs (m)

27.329

26,085

4.8%

Average sector length (km)

1,061

1,069

(0.8)%

9

Flying with

easyJet

easyJet is passionate about making travel easy and affordable for our customers. Our customer experience is at the heart of everything we do, everyone is committed to making the travel experience as easy as it can be.
More than 300 million Europeans live within one hour’s drive of an easyJet airport, more than any other airline.

easyJet for business travel
With our expanding route network high frequencies on business routes, great customer service and low fares, it makes business sense to choose easyJet. We’ve carried over 6.5 million business travellers this year and they now account for almost 20% of our passengers annually. easyJet was one of the first low cost airlines to make its inventory available to business travel bookers through GDS supplier Amadeus, a leading travel technology partner and transaction processor for the global travel and tourism industry. In November 2011 we extended and enhanced our agreement with Amadeus. The new partnership will enable easyJet to capitalise on the role that GDS systems and travel management companies play in the corporate travel market so that we can gain a larger market share.
At the start of 2012, easyJet announced a pan European commercial agreement with American Express Global Business Travel. The new deal means that it will be working with American Express as one of its first Travel
Management Company partners. It also announced a similar deal with leading
UK travel management businesses FCm Travel Solutions and Corporate
Traveller.

easyJet flexi fares
For business travellers that wish to secure greater choice and flexibility for their journeys with us, flexi-fare tickets were introduced in 2011.

Flexi-fare tickets provide;
> Unlimited flexibility to change the date of their flights up to two hours before the scheduled departure time.
> Fares starting at just £100
> Automatic speedy boarding
> No booking fees
> A checked in hold bag included at no extra cost
Initially the flexi fare option was only available through business booking channels, including Global Distribution Systems (GDS) and self booking tools used by business travel companies. However Flexi fares are now available to all through easyJet.com.

10

speedy boarding
Speedy boarding enables passengers to be among the first to board the plane. It can be purchased in advance online or purchased at the airport before departure.

speedy boarding plus
Speedy Boarding Plus combines Speedy Boarding, which allows passengers the opportunity to pay to be amongst the first to be called to board a flight, with a dedicated check-in service.

easyJet plus
The easyJet plus annual membership card gives passengers the opportunity to enjoy unlimited Speedy Boarding on every flight without prior reservation by simply showing the card at check-in and at the boarding gate. At selected airports, the card will also allow access to the priority check-in service of
Speedy Boarding Plus.
The card can be purchased via easyJetplus.com and is available from just
£75. The cost of membership gives customers a year's free Speedy Boarding.
The more members fly with easyJet, the more they benefit and customers will, on average, start saving money after only five return trips with easyJet.

easyJet for families
Our ambition is to become the number one choice for families travelling throughout Europe. We endeavour to make their experience as easy and stress free as possible. easyJet operates a free seating policy however our families travelling with
Children under 5 are invited to board the aircraft ahead of boarding group 1 to ensure you are seated together. We’re well prepared for smaller passengers and have additional seat belts for infants so they can fly safely on your lap.
For customers that prefer to book a separate seat for under 2s, this can be done online via easyJet.custhelp.com
Children over the age of 2 years can take the same amount of baggage as an adult - that’s one piece of hand baggage without any weight limit. The maximum size is 56 x 45 x 25cm including wheels and handles.
As part of our commitment to enhance the experience for families that fly with us, we’ve created a Families question & answer pack with handy checklist which is available for download on easyJet.com.

11

easyJet Holidays easyJet Holidays – easyJet.com/holidays, was established in 2011 signalling the end of the traditional un-flexible package holiday. The easyJet Holidays website offers competitively priced, flexible and convenient holidays across the airline’s extensive network, including city breaks, beach and ski holidays.
The operation is a collaboration between easyJet and Low Cost Beds, one of the leading online travel companies in the UK, who provide access to more than 10,000 hotels ranging from great value 3 star options to luxury five star, room only to all-inclusive. Private and shuttle transfer options are also available, arranged by Resorthoppa.
Customers can book a holiday on the easyJet holidays website safe in the knowledge that their holiday is fully protected for all monies paid, arising from cancellation or curtailment of their travel arrangements.
The prices on the easyJet Holidays website incorporate flights and accommodation, with optional transfers also available. Unlike other operators they don’t include other costs that you may not want –easyJet Holidays customers only pay for what they need. easyJet Holidays also come with a price guarantee. If a customer finds the same holiday with directly comparable easyJet flights and the same accommodation, then we’ll match the price.
For Summer 2012, easyJet Holidays will be introducing Reykjavic in Iceland and Kefalonia in Greece.

12

easyJet innovation Launching the low-cost model in
Europe 15 years ago, we are pioneers in essence. True innovators. It’s in our DNA.

easyJet and sustainability easyJet takes its environmental responsibility seriously. We see striving for excellence in environmental, social and ethical activities as a key behaviour for a successful and sustainable business. It is positive for shareholders, our people and suppliers. We aim to be considerate to our neighbours whilst delivering value to our customers.

Our environmental code is based on three promises:
1
2
3

To be environmentally efficient in the air
To be environmentally efficient on the ground
To lead in shaping a greener future for aviation, for example via carbon off setting and shaping future aircraft design.

In 2007 easyJet unveiled its proposal for an ‘eccojet’, an outline of the next generation aircraft we are demanding from manufacturers. This would be 50% more environmentally efficient than today’s aircraft.
The airline invests billions in the latest technology to ensure that the fleet is as environmentally efficient as can be with our aircraft aged an average of only 4.5 years. A traditional airline flying the same the same route as us, using the same plane, emits 27% more carbon per passenger per km.

We are proud to fly:
>
>
>

Newer planes
Fuller planes – we sell on average 85% of the seats on our higher seat density planes
Short-haul, direct trips only

keeping things simple
Our airport infrastucture is deliberately simple with
> One class of service
> No cargo offering
> Online check-in
> No transfer facilities
We therefore only have simple airport requirements that don’t need expensive, energy intensive facilities.
Ground operations have a vital role to support a low energy and carbon intensive operation - so everything from our short turnarounds to our simple airport structure contributes to a way of thinking that enhances the environment. 13

keeping waste to a minimum
Our office operations are near paperless. No tickets or travel documents are printed and we recycle the paper and office materials that we do use.
Onboard, unnecessary waste is minimised as we don’t provide free food and de-icing is carried out with non- hazardous and bio-degradable products – much kinder to the environment.

nanotechnology
In 2011 easyJet announced that it was the first commercial airline to trial a revolutionary nano-technology coating on its aircraft.
The technology is aimed at reducing drag and increasing fuel efficiency.
The ultra thin coating, already used on US military aircraft, is a polymer that cross links and bonds to the paint surface and only adds an estimated 4oz to the weight of the aircraft.
The coating reduces the build up of debris on the aircraft's structure, leading edge and other surfaces; thus reducing drag on the surface of the aircraft.
The manufacturers of the coating estimate that it could reduce easyJet's fuel consumption by 1-2%.
The airline has coated a number of its aircraft and will compare their fuel consumption with the rest of the fleet during a 12 month trial period.
The coating is less than a micron thick when applied. A micron, short for micrometer, is a unit of measurement equal to one millionth of a meter.
The special coating is applied and distributed in the UK by an organisation called
TripleO.

14

Avoid ash detection project headline facts
> AVOID stands for Airborne Volcanic
Object Imaging Detector
> easyJet and Nicarnica Aviation successfully trialled AVOID ash detection technology in
December 2011.
> The use of this unique ash radar technology will keep airspace open in times of volcanic disruption and thus reduce passenger disruption.
> The inventor of the system is
Dr Fred Prata of Nicarnica Aviation, a spin-off company of the Norwegian
Institute of Air Research (NILU).

the AVOID technology
Prior to 2010 there was a blanket ban on aircraft flying in volcanic ash. Following the Eyjafjallajökull volcanic eruption in 2010 new rules were agreed based around the concentration levels of ash.
The system is involves placing infrared technology (developed by the US military) onto an aircraft to supply images to the pilot of ash in their flight path. It is a similar concept to that of weather radars onboard.
The system enables pilots to see an ash cloud of up to 100km ahead of the aircraft and at altitudes of between 5,000ft and 50,000ft.
On the ground data from an aircraft with AVOID onboard would be used to build up an accurate image of the ash cloud. This would open up large areas of airspace that would otherwise be closed during a volcanic eruption, which would benefit passengers by minimising disruption.

volcanic ash and aviation
Volcanic ash is problematic for aircraft because when particles of ash enter an aircraft engine they can melt and solidify as glassy deposits that can prevent the engine from operating. There have been cases when volcanic ash has stopped all four engines from operating.
The threat not only remains very real – it is growing. Volcanologists predict that the next Icelandic eruption is likely to be from Katla which is up to 10 times bigger than Eyjafjallajökull and Grimsvötn.
Katla’s last major eruption was in 1918. The volcano usually erupts every 40 to 80 years, which means the next significant event is long overdue. It has recently started to show signs of an impending eruption. The effects of any eruption could be enormous so it is vital that technology is in place to enable Europe to continue flying.

severi satellite and inversion modelling
> Dr Fred Prata takes data from the satellite SEVIRI and inputs it into a unique dispersion model which enables him to provide a forecast of where, and in what concentration, the ash is.
> The CAA accepts the model and has used the results of inversion modelling to inform its decision making.
> The inversion modelling works alongside AVOID – it gives an aerial view of where the ash is and in what concentration. AVOID is necessary to locate exactly where it is in the flight path and can map this out.

15

testing the technology
The system was tested over Mount Etna and Stromboli in 2011. The team operated 1-2 flights per day for 10 days totalling more than 30 hours of flight time. The tests were able to demonstrate that the technology is reliable and can detect SO2 gas as well as ash. One aim of the flights was the imaging of normal, meteorological clouds to demonstrate that the system does not produce false alarms. As a result of the successful tests the team will be incorporating even faster cameras into the AVOID system to reflect the higher speed of a commercial jet compared with the test aircraft.

from testing to onboard easyJet and Airbus have agreed to work together on testing the AVOID technology. The two parties will meet soon to discuss Airbus flight test support for the AVOID project using an Airbus test aircraft.
The AVOID technology will also be put through a certification process with EASA
(European Aviation Safety Agency). easyJet then intends to install the technology on its own aircraft with a view to fitting it on enough aircraft to minimise future disruption from ash as early as summer 2012.

16

Electric green
Taxiing system project On 9 February 2012 easyJet announced a collaboration with Honeywell and Safran to be the first airline to support the development and trial of the innovative new electric green taxiing system (EGTS).

headline facts
> Due to the high frequency and short sector lengths of easyJet’s operations, around 4% of total fuel consumed annually is used when the airline’s aircraft are taxiing
> easyJet’s aircraft average 20 minutes of taxi time per flight – the equivalent of
3.5 million miles a year
> The first operational trials are expected to start in 2013. Honeywell and Safran are targeting to offer the electric green taxiing system either on new aircraft or as a retrofit solution to in-service aircraft as early as 2016.
> easyJet will assist in establishing the airline standard operational procedures for aircraft equipped with the system.

the EGTS system
The EGTS allows aircraft to taxi without requiring the use of aircraft engines by using the Auxiliary Power Unit (APU) generator to power motors in the main wheels. Each of the aircraft’s powered wheels is equipped with an electromechanical actuator, while unique power electronics and system controllers give pilots total control of the aircraft’s speed, direction and braking during taxi operations. The system would therefore reduce, if not remove altogether, the need for tugs to manoeuvre aircraft in and out of stands.
Subject to a positive trial and favourable final economics, we would hope to hold a trial in the second half of 2013.

17

easyJet
Board &
Management
team
Sir Michael rake

Carolyn mcall obe

Sir Michael Rake - Non-executive Chairman
Michael (1948) was appointed to the Board of easyJet as Deputy Chairman on
1 June 2009 and became Chairman on 1 January 2010. He is Chairman of BT
Group plc, as well as a Non-executive Director of Barclays PLC, McGraw Hill Inc and the Financial Reporting Council. He is also Chairman of the private equity oversight group; the Guidelines Monitoring Committee.
From May 2002 to September 2007, Sir Michael Rake was Chairman of KPMG
International. Prior to his appointment as Chairman of KPMG International he was Chairman of KPMG in Europe and Senior Partner of KPMG in the UK.
He joined KPMG in 1974 and worked in Continental Europe before transferring to the Middle East to run the practice for three years in 1986. He transferred to
London in 1989, became a member of the UK Board in 1991 and had a number of leadership roles in the UK before being elected UK Senior Partner in 1998.
Mike is also a Vice President of the RNIB, a member of the Board of the
TransAtlantic Business Dialogue, a member of the CBI International Advisory
Board, the DTI’s US/UK Regulatory Taskforce, the Advisory Council for Business for New Europe, an Association Member of BUPA, The School of Oriental and
African Studies Advisory Board, Senior Adviser for Chatham House and the
Global Advisory Board of the Oxford University Centre for Corporate Reputation.
Mike was Chairman of Business in the Community from 2004-2007 and a member of the board of the Prince of Wales International Business Leaders
Forum from 1998 to 2007.
Mike is also a Governor of Wellington College and a board member of Guards
Polo Club.

Carolyn McCall OBE - Chief Executive Officer
Chris kennedy
Carolyn joined easyJet on 1 July 2010 as Chief Executive. Prior to this, she was
Chief Executive of Guardian Media Group plc.
Carolyn was a Non-executive Director of Lloyds TSB from 2008 to 2009, Nonexecutive Director of Tesco Plc from 2005 to 2008 and Non-executive Director of New Look from 1999 to 2005. She was Chair of Opportunity Now and a former
President of Women in Advertising and Communications London (WACL).
Carolyn was awarded the OBE for services to women in business in June 2008.
In April 2008, she was named Veuve Clicquot Business Woman of the Year.
She graduated from Kent University with a BA in History and Politics and from
London University with a Masters in Politics.

Chris Kennedy - Group Finance Director
Chris joined easyJet on 1 July 2010 in the position of Chief Financial Officer. Chris joined easyJet from EMI Music where he has had a successful career covering a range of international roles including Chief Financial Officer. Chris has considerable experience of working within a high profile international, fast changing consumer facing business, strong financial skills and a demonstrable track record of delivering operational improvement.

18

Contacts easyJet.com twitter.com/easyJet facebook.com/easyJet easyJet Airline Company Ltd,
Hangar 89, London Luton Airport,
Luton, Bedfordshire,
LU2 9PF

www.easyJet.com

Hangar 89
London Luton airport
Luton
Bedfordshire
LU2 9PF