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Europe’s second-largest airline saw its profits plummet as the rising price of fuel impacted on earnings.
Net income in the year leading up to September 30th was £83.2 million, or 19.4p per share on the stock market.
Last year, the figure stood at £152.3 million, or 35.6p per share.
The Luton-based company said in a Regulatory News Service statement that sales increased 31 per cent to £2.36 billion.
Analysts questioned by Bloomberg had initially predicted a profit of £82.5 million on sales of £2.31 billion.
Easyjet chief executive Andy Harrison commented: "Easyjet delivered a good trading performance in the financial year ending September 2008."
In addition to running flights to various European destinations, Easyjet also offers hotels and apartments, car rental, travel insurance and airport parking services.
The company’s founder Stelios Haji-Ioannou recently increased his stake in the business to 26.9 per cent.
