Andy Harrison

Buoyed by impressive profits growth, Whitbread hikes dividend by nearly 20%

Whitbread, the operator of Costa Coffee and Premier Inn hotel chains, on Tuesday announced an impressive rise in profits and rewarded its shareholders with a nearly 20 per cent increase in dividend.

EasyJet chief to step down

Andy Harrison, the chief executive of the low-cost airline Easyjet, is to step down at the end of June.

Including Andy Harrison, five senior executives have left the airline in wake of a boardroom battle with founder Stelios Haji-Iannou.

The airline said that Mr. Harrison would not leave until the end of next June to give it time to find a successor.

Director Stelios Haji-Iannou had opposed Easyjet’s expansion plans and advocated preserving cash during the economic downturn.

50% Drop Reported by easyJet in Full Year Profits

British low budget airline easyJet has posted a huge drop of over 50% in its full-year earnings for the year up-to September end. Rapidly rising fuel costs have been blamed by the carrier for the loss. The airline recorded earnings of ?54.7 Million for the current full-year, a substantial drop from the ?110.2 Million recorded for the same period last year.