easyJet Fuel Cost Update

easyJet PLC
19 March 2008

19th March 2008



easyJet updates on rising fuel costs


easyJet's revenues continue to perform well with February load factors improving
1.8 percentage points versus the prior year to 84.8% and trading for Easter
continues on track. Consequently, easyJet expects to deliver first half results
in line with the expectations that management set out in the interim management
statement released on February 7th 2008.

Currently, around 27% of easyJet's summer seats are sold which is slightly ahead
of last year and the positive outlook for total revenue per seat in the second
half of the year remains unchanged. However, the price of jet fuel has risen to
unprecedented levels and if it remains at current levels, naturally easyJet,
like all other airlines will incur a significant increase in fuel costs.

At the time of easyJet's Interim Management Statement on February 7th 2008, the
forward price for jet fuel for summer 2008 was $840 per tonne (1), the current
forward price for jet fuel for summer 2008 is over $1,000 per tonne. If current
prices were to be maintained there would be an additional second half fuel cost
of around £45m, despite easyJet having 40% (2) of its fuel requirements hedged
at $750 per tonne. It is unlikely that such a large and immediate fuel increase
could be mitigated in the short term by revenue improvements and cost actions,
therefore pre-tax profits for the full year would be below previous guidance.

Commenting, Andy Harrison, easyJet Chief Executive, said:

'First half results will be in line with our expectations, however it is pretty
obvious that if the recent significant rise in the fuel price is maintained then
our second half profits will be lower than we had previously expected.

'Of course the price of fuel will hit all airlines and we remain convinced that
the combination of our new fuel efficient aircraft fleet, together with the
proven strength of the easyJet business model will mean that we shall emerge as
winners in a  high oil price environment.'

easyJet will report March traffic statistics on April 7th 2008 and its half year
results on May 7th 2008.


(1)             Jet CIF NWE price quoted on 7th February 2008 for August 2008

(2)             Current percentage of fuel hedged including GB Airways for the
                period April - September 2008


END


For further details please contact easyJet plc:


Investors and analysts:
Rachel Kentleton, Investor Relations               [phone]

Media:
Toby Nicol, Corporate Communications               [phone]





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