Easyjet posts record second-half profit
Easyjet had a record H2 performance with a full year pre-tax airline profit of £455 million.
EasyJet holidays profits grew 221%, delivering £122 million before tax.
It achieved a record performance during summer 2023, despite high fuel costs.
It included ‘significant increases’ in ancillary revenue.
“Our record summer performance demonstrates demand for easyJet remains strong,” said CEO Johan Lundgren.
“We see a positive outlook with airline and holidays bookings both ahead year on year.”
Overall, the 2023 financial year saw a positive turnaround of +£633m year on year.
The outlook is positive for 2024 with early bookings for Q2-Q4 ahead of last year.
However, early winter results will be impacted due to conflict in the Middle East.
Flights to Israel and Jordan have been suspended while near term flight searches and bookings across the industry have been affected.
The company does not expect its Q1 loss to improve year on year.
Total revenue for the full year was up 42%, to £8.17 billion.
This was achieved thanks to an increase in seat capacity from 81.5 million in 2022 to 92.6 million.
Passenger revenue was up 37% to £5.22 billion.
Passenger Revenue Per Seat (RPS) also saw a 20% increase to £56.37, compared to £46.80 in 2022.
Group ancillary revenue was up 51%.
Related News Stories: EasyJet's Profitable Vacation Business - by Brian Sumers Results for the 12 months ending 30th September 2023 - easyJet plc International Airlines Group Posts Record Half-Yearly Profit ... easyJet PLC - Half-year Report - easyJet plc EasyJet Bets on Bigger Airbus Jets After Record Winter Loss ... Etihad posts 'record' $296m first-half operating profit EasyJet targets another bumper summer of record profits Easyjet to report as summer travel booms Weekly Outlook: EasyJet full-year and Pennon half-year results ... How easyJet is making a post-pandemic comeback - Fast Company
Learn more about : easyJet Holidays ( United Kingdom )
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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