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* EasyJet says more to be done to decarbonise aviation
* Plans to launch easyJet Holidays before Christmas
* Better pricing expected in first half of 2020
(Adds background, shares, analyst comment)
By Alistair Smout
LONDON, Nov 19 (Reuters) - Britain's easyJet aims to
become the world's first major airline to operate net-zero
carbon flights across its entire network, it said on Tuesday
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
pounds ($32.4 million) a year, though Chief Executive Johan
Lundgren acknowledged 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 IAG 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.
'REASSURING' BOOKINGS
The announcements came as easyJet reported headline pretax
profit of 427 million pounds, compared with guidance last month
of a figure between 420 million and 430 million pounds. That was
down 26% from last year because of rising fuel prices and a
tough operating environment.
The airline said that forward bookings for the first half of
the 2020 financial year were "reassuring" and slightly ahead of
last year, reiterating that capacity growth would be towards the
lower end of historic guidance between 3% and 8%.
Shares in easyJet rose 3.6% by 0851 GMT.
Analysts at RBC said consensus estimates for 2020 are
unlikely to change, with upgrades of 5-7% from a better pricing
environment being "masked" by the spend on carbon offsetting.
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.
($1 = 0.7712 pounds)
(Reporting by Alistair Smout
Editing by Kate Holton and David Goodman)
