The italian opportunity

25 MARCH 2013

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Contents

1. easyJet in Italy

2. easyJet’s opportunity in Italy

3. Why Linate / Fiumicino is important

4. Summary

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Easyjet in italy

Frances Ouseley

Country Director Italy

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1998 1st flight to Italy

2004 1 million

passengers carried

2006 Malpensa

Base opened

2009 Fiumicino

Base opened

2013 Linate /

Fiumicino route

• 24 aircraft in Italy

• 2 bases

• Milan Malpensa and Rome Fiumicino

• 12.5 m passengers in 2012

• 140 routes from Italy

• 870 employees

• Positive and improving customer perception

easyJet - 15 years in Italy

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0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%

0

50

100

150

200

250

UK Germany Spain Italy France

Million seats 2011 (OAG)

13%

12%

5% 5% 5% 4% 4% 4% 4% 4%

0%

2%

4%

6%

8%

10%

12%

14%

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1Top 10 capacity flows of easyJet (OAG Jan-Dec 2012) – millions of seats

Focus on connecting Italy with the rest of Europe

Italy is a significant market for easyJet

Million seats Jan-Dec 2012

% weight on easyJet network

easyJet network1 European market

6 6

Contribution per block hour

…while returns keep improving

• Capacity has increased from 8m seats in 2008 to 14m seats in 2012, a CAGR of 17%

• Returns (Contribution Per Block Hour) have increased by a CAGR of 10% over the last 4 years

Capacity in Italy (network point)

Strengthening the international network…

easyJet has built a strong position in Italy

500

600

700

800

900

1,000

1,100

1,200

1,300

1,400

0

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4

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2008 2009 2010 2011 2012

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Main airports in Italy Short haul passenger traffic from Italian airports

easyJet is • #1 in Milan Malpensa

• #2 in Rome Fiumicino, Venice, Naples, Palermo and others

MXP

FCO

NAP

VCE

PSA

PMO

CIA

CTA

OLB

BRI

CAG

BDS

BLQ

VRN

LIN

SUF

GOA

TRN

AHO

REG

AOI

PSR

FLR

BGY

TRS

TPS

CRV

Focused on higher yielding airports in Italy

Pa

sse

ng

ers

1

Ave

rag

e M

arke

t Fa

re in

Italy

€1 0

10

20

30

40

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90

0

5

10

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25

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35

Milan Rome Venice Catania Naples Palermo Bologna Cagliari Pisa Bari

PAX Avg fare

1 PaxIs. 2011, Domestic and European flows from Italian Airports

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Giuseppe Careddu Head of Sales

Matteo Cecconi Route Manager

Frances Ouseley Country Director

Daniele Bordogna Sales Executive

Noemi Frisoli Marketing Manager

Marco Picardi Country Analyst

Nicola Martino Pilot Manager

Lorenzo Lagorio HR Business

Partner

Giuseppe Bonetti RGM Ground Ops

Gianluca Murari Cabin Services

Manager

Significant expertise in Italy

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Easyjet’s opportunity in italy

Frances Ouseley

Country Director Italy

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Whilst there are short term challenges with the macro economic environment and with airport charges and taxation increasing, there are opportunities for easyJet in the Italian market

1. Build on strong market share in major catchment areas

2. Focus on business passengers and those with higher disposable incomes

3. Adapt the model to the characteristics of the Italian market

4. Keep on building the brand and differentiating the product

Opportunities in Italy focused on major catchment areas and international traffic

Where is the opportunity for easyJet now

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1. Major catchment

areas Malpensa provides platform to drive returns

• Single terminal

• Reduce cost base

• Dedicated easyJet check-in and gates

• Crewing

• One single access Crew Room

• Improved flexibility

• Operational efficiency

• Above network average turn around time

• On time performance (87% in FY’12)

• Refuelling initiatives

• Lower aircraft costs

• A320s mix enables short and mid-haul flights

• High utilisation of each aircraft

• CSAT

• 5 percentage points improvement in the last 12 months

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2. Business passengers

Strong international network supports the business passenger opportunity

Business passengers - network

• easyJet’s share of business passengers is increasing in Italy

• Linate / Fiumicino provides opportunities not just because it is a business route but it establishes easyJet’s credibility as an airline for business passengers

• Continue to increase share of business/ high yield passengers through:

• targeted deals with TMC and corporate accounts

• GDS distribution

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Opportunity to reshape the yield curves to focus on late bookers

Booking curves 200 to 0 days to departure

3. Adapt to Italian market Italian passengers are late bookers

• Italian passengers book later than passengers in other markets

• Overall company average is 26-27 days whereas the average for Italy is closer to 20

Different booking patterns in Italy

Days before travel %

of

bo

oki

ng

s

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4. Building brand Brand awareness increasing in Italy

4 6 10 16 15 14 14 12

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30 32 32 21 26

35

Dec-10 Oct-11 May-12 Dec-10 Oct-11 Feb-12 Dec-10 Oct-11 Oct '12

Spontaneous - other mention

Spontaneous - 1st mention

UK Italy Switzerland

Pe

rce

nta

ge

(%

)

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• Awareness increased considerably in the first 6 months of 2012

• Leisure Consideration (+11pp)

• Business Consideration (+12pp)

Source GFK Brand Trackers 2007-2012

4. Building brand Improving perception in Italian market

Spontaneous Brand Awareness

Brand Consideration

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4. Building brand Build Brand through campaigns…

• First TV advert launched last October 2012, with a second campaign in March 2013

• A consistent brand presence in main catchment areas and online

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4. Building brand …by receiving significant press coverage …

• Leverage the Linate / Fiumicino win to position the brand in a more credible way towards business passengers

• Dedicated advertising campaign launched in Rome and Milan, one promotional and one business

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4. Building brand …by targeting a higher yield target…

As a result of our partnership with Rossignol, easyJet is present in all the key mountain resorts in Italy, promoting the brand to a higher yield segment

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4. Building brand …and being present in large cities

easyJet was present in the key shopping streets of Milan and Rome in the days before Christmas

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4. Building brand Focused and targeted new advertising campaigns

Exploit new CRM and digital capabilities to target relevant passengers and deliver an easy, engaging and personal experience at every stage of their journey

Why linate / fiumicino is important

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Frances Ouseley

Country Director Italy

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CHE COSA SIGNIFICA ?

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Evoluzione naturale del nostro posizionamento in Italia : easyJet come l’Alternativa moderna di Convenienza e di Qualita’

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In linea con la strategia Europea di presenza sui flussi principali e su tutti i segmenti di clienti

Un’offerta facile, accessibile e veloce, con tutta la flessibilita’ per i viaggi d’affari . Un’offerta per tutti !

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Important achievement for easyJet and the Italian air traffic market: the liberalisation of the last monopoly route in Europe

Credibility

Sustainability’

Dedication

Why is the route important

• Long and complex process

• legal procedure started in December 2011 and lasted 14 months

• 5 airlines made submissions for the right to operate the route

• easyJet was awarded the route as the airline most likely to offer a real long term competitive alternative, on a dense business route, to the benefit of all customers

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Extensive press coverage in Italy

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Prices for all (Standard fares)

Easyjet mobile

Easyjet Plus card

Flexible fares Flexi

Prices for all (Standard fares)

Prices for all (Standard fares)

Prices for all (Standard fares)

easyJet mobile

easyJet mobile

easyJet Plus card

• Non flexible fare

• Smartphone app (info, bookings, seat choice)

• Fast track • Dedicated seats

(not first row) • Priority boarding • Annual cost 180€

• Fast track • Dedicated seats (first row and extra leg seats) • Priority boarding • Unlimited changes (up to 2 hours before

departure)

Tailored offer

according to the needs

of the corporates

In partnership with TMCs

Easy, affordable, fast, flexible – no complexity

Convenience + Speed’ + Flexibility

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2013 : innovation in network development

easyJet continues to innovate by offering increasingly attractive portfolio of

routes

• Milan Malpensa – Luxembourg: 4 flights a week starting

from 31st March 2013

• For business travellers: improved schedule (new morning flights from

Rome Fiumicino to London and Paris) and new routes such as Rome-

Hamburg, Catania-Basel

• Milan Malpensa - Belgrade: 3 flights a week from 19th April 2013

• First airline to offer a non charter link to Sharm El Sheikh: from

Milan Malpensa 3 flights a week starting from 12th March 2013

• First route outside EU

Entering natural monopoly routes

Opening up new markets

Opening up markets outside the

EU

More choice for business travellers

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14 New routes within first 6 months of 2013

• 13 International and 1 domestic

From To 1st day of operation

Milano Malpensa Larnaca (Cyprus) 4th March

Sharm El Sheikh 12th March

Luxembourg 31st March

Belgrade 19th April

Ajaccio 6th July

Roma Fiumicino Milan Linate 25th March

Copenhagen 8th April

Hamburg 8th April

Venezia London Southend 8th February

Manchester 14th February

Bari Paris Charles De Gaulle 1st April

Catania Basel 28th March

Olbia London Luton 15th May

Nice 6th July

Strengthening the network internationally

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Likely to Recommend vs. competitors (%)

Service Satisfaction vs. competitors (%)

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66

85

80

75

70

65

55

0

VENICE

90

60 60

76

86

NAPLES

73

83

ROME

71

53

77

82

MILAN

71

54

72

89

Meridiana Ryanair Alitalia easyJet

0 0

NAPLES

43

72

77

90

80

70

60

50

0

VENICE

56

73

81

ROME

64

50

74 76

MILAN

67

52

70

84

Ryanair Meridiana Alitalia easyJet

82%

Overall service satisfaction of easyJet customers in Italy (2012)

• A survey conducted in airports where easyJet operates shows a preference index higher than other airlines…

• …and a service satisfaction higher in all airports

Fonte: GFK eurisko, December2012

Industry leading customer satisfaction in Italy

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Summary

Frances Ouseley

Country Director Italy

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• Italy is a significant market for easyJet

• Structural changes are benefitting and will continue to benefit easyJet

• easyJet is focused on:

• Building on strong market share in major catchment areas

• Business passengers and those with higher disposable incomes

• Adapting the model to the characteristics of the Italian market

• Building the brand and differentiating the product

• Strength of the network underpins ability to execute our Italian strategy

Summary

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Q&A

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Disclaimer

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