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  "documentTitle": "2025 Annual Report",
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      "text": "dividend: 13.2 pence",
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      "text": "Given the performance in the financial year alongside easyJet's strong liquidity position, the Board intends to pay an increased dividend of 13.2 pence per share, up 9% and equivalent to 20% of FY25's headline profit after tax.",
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      "text": "As we move forward, the Board and I will continue to work collectively with the management team and everyone at easyJet to progress towards the delivery of our medium-term targets.",
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      "text": "We clearly understand that in a capital-intensive industry, with some inherent volatility, being able to achieve attractive returns on capital lies at the heart of shareholder delivery.",
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      "text": "Financial strength is an important attribute in this industry and a focus for easyJet, given its nature and asset intensity. As at 30 September 2025, easyJet had a net cash position of £602 million, a £421 million improvement on the prior year.",
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      "text": "I am pleased to report that your Board is functioning well and strongly focused on supporting management through strategy development and operational delivery.",
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      "text": "However, it remains a source of considerable frustration that too often public authorities across our operating regions fail to optimise the potential contribution air traffic can make to modern economies.",
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      "text": "There has been a constant dialogue with our stakeholder groups throughout the year and, on behalf of the Board, I would like to take this opportunity to thank them for their engagement.",
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      "text": "As a leading European airline, easyJet continues to play an active role in shaping the policy environment in which we operate.",
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