EasyJet to go carbon neutral

LONDON: Britain’s easyJet aimed to become the world’s first major airline to operate net-zero carbon flights across its entire network, it said yesterday after posting full-year profit towards the top end of expectations.

In addition to the plans to offset emissions from flying, the budget carrier also announced that it would launch easyJet Holidays in Britain by Christmas, offering its own beach and city breaks after the demise of tour operator Thomas Cook.

The carbon offset programmes will cost about £25 million ($32.4 million) a year, though chief executive Johan Lundgren acknowledges that longer-term solutions are also needed.

“We recognise that offsetting is only an interim measure, but we want to take action on our carbon emissions now,” he said.

Airlines have come under increasing pressure to reduce emissions in the face of the growing “flight shame” movement, formed in Lundgren’s native Sweden.

British Airways owner International Consolidated Airlines Group has said it will carbon-offset its domestic flights, but moves towards more sustainable fuel or even hybrid or electric planes will take years.

Over the past two years easyJet worked with Wright Electric, which aims to produce an all-electric commerical plane to be used for short-haul flights.

The announcements came as easyJet reported headline pre-tax profit of £427 million, compared with guidance last month of a figure between £420 million and £430 million. That was down 26% from last year because of rising fuel prices and a tough operating environment.

easyJet said the new holidays business would break even in the year to September 2020.

It is expected to fly routes from Gatwick and Bristol take-off and landing slots that were acquired after the collapse of Thomas Cook, starting as early as next February.

Meanwhile in Dubai, Airbus SE said yesterday that easyJet would buy 12 more A320neos it previously had options to purchase, pushing the airline’s total order for the single-aisle plane to 159.

The list price of the A320neo in 2018 was $110.6 million, making the order for 12 worth about $1.3 billion. Airlines, however, typically negotiate better prices.