The British budget airline was in the red in the Christmas quarter. However, the company expects a profit for the entire financial year up to the end of September.
Despite a strong recovery in demand, British low-cost airline Easyjet was once again in the red in the Christmas quarter. Because operating costs increased in addition to sales, the adjusted pre-tax loss fell by only 38 percent to 133 million British pounds (about 151 million euros), as Easyjet announced on Wednesday in Luton near London.
For the financial year up to the end of September 2023, however, Easyjet boss Johan Lundgren expects numbers to be in the black – and ticket prices to continue to rise. On the other hand, Europe’s largest low-cost airline Ryanair from Ireland has also announced a profit for the Christmas quarter.
At Easyjet, the months of October to December correspond to the first quarter of the current financial year. Compared to the same period last year, the number of passengers grew by almost half to 17.5 million. Sales even jumped 83 percent to just under £1.5 billion. One reason for this was significantly higher ticket prices.
“We expect that our winter loss in the first half of the year will be significantly reduced compared to last year,” said Easyjet boss Lundgren. “We are well on our way to making a profit for the year as a whole.” Pre-tax profit is now expected to exceed the average market expectation of currently £126m. Lundgren is building on the strong development in bookings and higher ticket prices for the summer as well.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
