Easyjet shares up on profits news

<p>Easyjet has confirmed a large rise in its profits.</p>

Budget airline Easyjet has announced a large rise in its annual pre-tax profits, with the share price of the company up as a result today (November 19th).

The firm revealed it made £478 million in the last year, a rise of 51 per cent on the previous year, which the company said was mostly down to the introduction of a new online booking system.

Chief executive Carolyn McCall suggested allowing passengers to book their seats in advance has had a major impact on Easyjet's profitability.

"It's a nice, calmer boarding process and a lot of people have taken up the option," she said.

More than 60 million people flew with the airline in the 12 months to the end of September, the company confirmed in its annual statement.

In the early stages of trading this morning, the share price of Easyjet shot up. By 08:13 GMT, stocks in the airline were trading around four per cent up on the start of the session.

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