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For the 12 months to September 2009, the company recorded a figure of £43.7 million - a substantial decrease from the £123.1 million it made in 2008.
The news prompted easyJet to decline during afternoon trading on the stock market, with the company's shares having fallen to 2.55 per cent to 382.2p at 14:20 GMT.
Basic earnings per share fell by 14.6 per cent to 16.9p, however the business did record an increase in revenue, which jumped 12.p per cent to £2.67 billion.
"We are one of the very few European airlines to make a profit during the last 12 recessionary months," remarked chief executive of easyJet Andy Harrison, who said that this showed the "strength" of the firm's business model.
He said that cost cutting and efficiency improvements are two of easyJet's main targets, adding that trading during the winter is likely to be "tough".
Posted by Chris Weaver
