Nick asked about an update to my easyJet case study and whether there is one. There isn't yet but following on from today's annojncement from the company of their pre and post tax loss for the 6 months to 31 March 2003, there soon will be. Here is what I said to Nick: Dear Nick, Whilst I am intrigued to review easyJet again since they are about to post a LOSS this morning for the first time ever, I don’t have anything in the pipeline today but could well have within the week. I said in my original assessment, or when I was introducing it, that I didn’t like the way that easyJet’s pricing policy was really just a scam and having researched some of their prices recently I have been proven correct! From their web site this morning: easyJet plc generated a loss before tax, goodwill and non-recurring items for the six month period [to 31 March 2003] of £24m which compares to a reported profit of £8.3m for the same period in the prior year. The loss after tax for the period was £46.9m, which compares to a reported profit of £0.8 million in the same period of the prior year. They have posted a PDF file of their interim results and a very quick look through them shows that their Operating Costs are all drifting upwards, contributing significantly to their loss. I really don’t like the way this company operates and never have. They sacked their founder Stelios a while ago and my prediction is that this company with either close relatively shortly or they will have to revise their mode of operation despite their Chairman’s claim in their latest review that easyJet continues to demonstrate that its business model is robust and that there continues to be strong demand for low fare, point-to-point services between major European airports. Their model may be robust; but their ability to manage that model is open to doubt! Anyway, go and take a look at the ratio analysis section that I recently wrote for Biz/ed: there as you will see that I use easyJet together with British Airways for some of my analysis. Then click on this and scroll down the list of companies in the database that I put together and you can do lots of calculations on the data relatively easily from there … for some reason easyJet is out of alphabetical order in that list. Do you know www.tutor2u.net? They recently put together a couple of case studies in PDF format and the report on the European Airline Industry although rather weak could be useful for you. Best wishes DW