LONDON AND FRANKFURT—EasyJet Plc., Europe’s second-biggest discount airline, added 16 percent more passengers in May after buying GB Airways Ltd. Seat occupancy declined for a second-straight month as additional capacity went unfilled.

EasyJet carried 3.88 million travelers last month compared with 3.35 million a year earlier, the Luton, England-based carrier said in a statement Friday. The load factor, or proportion of seats sold, dropped 0.4 percentage point to 83.2 percent.

The £103.5-million ($203 million) GB purchase was completed in January, making EasyJet the No. 1 airline at London Gatwick airport. The stock has dropped almost 50 percent this year on concern spiraling oil prices will erode profit just as slowing economies deter passengers. The shares fell as much as 7.7 percent Friday as crude reached a record $137.7 a barrel.

“I would have expected loads broadly flat,” said Stephen Furlong, an analyst at Davy Stockbrokers in Dublin. “It’s a modest decline and I wouldn’t hang my hat on one month. Airline stocks bounced a lot this week and oil jumped overnight, and EasyJet is very sensitive to oil.”

EasyJet declined 25.75 pence, to 307.5 pence in London, giving a market value of £1.29 billion.

Other airline stocks also plummeted as crude jumped by more than $9 a barrel. British Airways Plc. fell 8.2 percent to 233.5 pence, the biggest drop since November 5, 2002, and Air France-KLM Group slipped 6 percent to €16.37. Ryanair Holdings Plc., Europe’s biggest discount carrier, dropped 6.5 percent to €3.02.

EasyJet began 11 new routes last month, including services to the Greek islands of Mykonos and Crete from Gatwick and Manchester, respectively. It will add 19 percent more capacity this summer as it takes delivery of more fuel-efficient planes. (Bloomberg)

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LONDON AND FRANKFURT—EasyJet Plc., Europe’s second-biggest discount airline, added 16 percent more passengers in May after buying GB Airways Ltd. Seat occupancy declined for a second-straight month as additional capacity went unfilled.