RESULTS AHEAD OF EXPECTATIONS; GUIDANCE UPGRADED

• Pre-tax loss of £40m, better than expectations; good first half performance despite unit fuel costs up 49% (£55m) or £3.01 per seat.
• Cost reduction momentum continues: costs per seat excluding fuel down 6.2% or £1.84 per seat from £29.59 to £27.75.
• Total revenue per seat up 0.8% in the spite of the effect of Easter falling in the first half in 2005 and the second half in 2006.
• Ancillary revenues significantly improved, up 31% or £0.76 per seat.
• 14.9m passengers carried, up 10.1%.
• Strong balance sheet with cash increasing by £59m to £726m.
• Continued growth in network to 235 routes and 67 airports, utilising 110 aircraft.
• 28 new routes and 4 new destinations started operating in the period with 8 further new cities announced for summer 2006.
• Continued strong operating performance with 80% of flights arriving within 15 minutes of scheduled arrival and 96% arriving within an hour.

Commenting on the results, Andy Harrison, Chief Executive, said:
“easyJet’s growth continues unabated, based on our unique and outstanding customer proposition of the lowest fares, convenient airports and customer care. We grew our revenues by 14% in the first half, launching 28 new routes and inaugurating services to our newest base in Milan Malpensa.
“We are encouraged by our first half performance, which is slightly ahead of our expectations at the time of our AGM in February. Successful cost reduction and revenue improvements, especially in ancillaries have largely offset the considerable hike in fuel prices and the effect of Easter moving from the first half in 2005 to the second half in 2006.

“Our stronger than expected first half performance and a good Easter provide the basis for an improved full year outlook. We are conscious that we have a big summer ahead, that the price of oil remains a risk, and we continue to operate in a highly competitive environment. Notwithstanding these uncertainties, we now anticipate full year passenger revenue per seat to be broadly in line with 2005, and expect ancillary revenue to grow at around twenty per cent per seat for the full year. Our continued cost management should result in a fall of approximately five per cent per seat excluding fuel. We assume the price of Jet fuel will stay around current levels and we maintain a neutral view on exchange rates. Overall, we now expect pre-tax profit to grow by ten to fifteen per cent compared with 2005.”

For further details please contact:

easyJet plc

Press:
Toby Nicol Corporate Communications: +44 (0) 1582 525 339

Analysts:
Julia Collins Investor Relations: +44 (0) 1582 525 258
Andrew Barker Investor Relations: +44 (0) 1582 525 274

There will be an analyst presentation at 9:00 am on 3 May 2006 at ABN AMRO, 3rd floor, 250 Bishopsgate, EC2M 4AA. A live webcast of the presentation will be available at www.easyJet.com.

There will be an analyst and investor conference call at 2:00 pm on 3 May 2006. For further details, contact Helen Lutman at Financial Dynamics on 020 7269 7153.