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From: Pablo Cortez To: Tracy Feist Date: 29/09/08 Overview: The following is a report into a private sector organisation known as Easyjet. Easyjet is a Public Limited Company and trades on the London Stock Exchange. It is a financially strong company being Europes No.1 Air Network. Easyjet's principal activity is providing airline services on short-haul and medium-haul point-to-point routes within Europe. Flying 872 times a day, It operates a fleet of 137 aircraft through 77 airport networks in 21 countries with a workforce of 5493 employees. This report will look into the purpose of the easyjet, how easyjet is run, its mission statement , concept, culture, overall performance, financial information, and other general operating activities. Main Findings: The airline was founded by Sir Stelios Haji-Ioannou in 1995, and he and his family remain major shareholders in easyJet PLC . easyJet currently operates throughout the UK and mainland Europe. The fleet of aircraft consists of 55 owned and 82 under operating lease, comprising of 107 Airbus A319's and 30 Boeing 737-700's. ...read more.
Concept The concept of easyJet is to keep costs low by eliminating the unnecessary costs and 'frills' which characterise 'traditional' airlines. They focus on maximising revenue opportunities whilst maintaining low fares and delivering cost savings. This is done in a number of ways: * Use of the Internet to reduce distribution costs easyJet was one of the first airlines to discover the benefits of ecommerce it sold its first seat online in April 1998. Now approximately 95 % of all seats are sold over the Internet, making easyJet one of Europe's biggest Internet retailers. * Maximise the utilisation of the substantial assets Maximising utilisation of each aircraft significantly reduces the unit cost. * Ticketless travel Passengers instead receive an email containing their travel details and booking reference when they book online. This helps to reduce significantly the cost of issuing, distributing, processing and reconciling millions of tickets each year. * No free lunch Eliminating free catering on-board reduces cost and unnecessary bureaucracy and management. ...read more.
Cash Flow from operations up 18% * Profit before tax per seat up 30% Some key dates in history for easyjet are: 1995 - First Easyjet flight 1998 - First seat sold online 1999 - First European base at Geneva 2000 - Listed on London Stock Exchange, 10 millionth passenger. 2005 - 100 Millionth passenger. 2007 - Launch of speedy boarding and easyjet holidays. Recommendations: A possible recommendation for easyjet would be to consider diversifying into the long haul industry out of its usual European boundaries. If it could offer its low cost prices competitive prices across a broader market, I feel confident in it increasing its revenue and market share within the airline industry. Conclusions: After starting with virtually nothing easyjet has rapidly developed into an extremely successful airline operator with ever increasing sales revenue and the company ever more dedicated to providing a high quality of efficient service at a low cost for the benefit of increasing the shareholder value. With ?? ?? ?? ?? BTEC National Award Business Unit 1 - Exploring Business Activity From: Pablo Cortez 1 29/09/08 ...read more.
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Here's what a star student thought of this essay
Response to the question
In summary, the report is quite outstanding. This is due, as the student clearly understands EasyJet's objectives and their goals which there set out to achieve. I believe that the report, could be enhanced, however there are small amendments. The ...Read full review
Response to the question
In summary, the report is quite outstanding. This is due, as the student clearly understands EasyJet's objectives and their goals which there set out to achieve. I believe that the report, could be enhanced, however there are small amendments. The report gives an overview of EasyJet within the first paragraph, which is quite good. This is due to that this allows the examiner to prominently understand what the report is based upon. The report states that EasyJet was founded by Sir Stelios Haji-Loannou in 1995. This is good, as this points out how the company was formed. Although the report could include the person's background and his business actives before he set-up the company. This would allow the examiner to understand the person's background.
Level of analysis
The report states that the business has a no tie policy, expect from the pilots. It would be good to include their option on this, and include the reason/s to why there would implement such a policy. For example the report could include 'EasyJet has a no tie policy, which may be due to allow their employees to feel at home when there are working, this creates an relax form of working.' The report states a number of bullet points, which describes EasyJet's objectives. These are explained well and justified were necessary.
Quality of writing
The report states the term 'Public Limited Company', however hasn't fully explained this term. The report could include 'An Public Limited Company, is a company which is owned by a number of shareholders. Shareholders can purchase shares at the price stated (which can increase/decrease on a daily basis) on the London Stock Exchange'. All technical terms, should be explained to allow the examiner to acknowledge the student's understanding.
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