EasyJet pays for Berlin deal

A difficult European airline market appears to be working to easyJet’s (EZJ) advantage. This time last year, the demise of Monarch relieved some of the overcapacity in the European airline market and 12 months on, easyJet has shelled out €40m (£35.6m) for the seven airport slots at Berlin Tegel airport that used to belong to the now-defunct Air Berlin. This contributed to a 10.2 per cent uptick in group passenger numbers, to a record 88.5m, with revenue per available seat up 6.4 per cent to £61.94. That's despite a total £152m loss incurred on the acquisition, although potential scheduling improvements should buck up operations this year.