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| EasyJet expects bigger profits as summer bookings soar | |
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| Budget airline has ramped up capacity and expects to be back to about pre-Covid levels | Budget airline has ramped up capacity and expects to be back to about pre-Covid levels |
| EasyJet has lifted its profit outlook for this year after summer bookings surged and passenger numbers over Easter returned to pre-pandemic levels. | EasyJet has lifted its profit outlook for this year after summer bookings surged and passenger numbers over Easter returned to pre-pandemic levels. |
| The budget airline has increased capacity, by 40% from January to March, and expects to be back to about pre-pandemic levels in the summer. | The budget airline has increased capacity, by 40% from January to March, and expects to be back to about pre-pandemic levels in the summer. |
| Its package holidays are 80% sold for this summer and with UK demand strong, the company expects 60% growth for the division compared with last year, up from 50% estimated previously. | Its package holidays are 80% sold for this summer and with UK demand strong, the company expects 60% growth for the division compared with last year, up from 50% estimated previously. |
| At Easter, demand was strong and easyJet operated an average of about 1,600 flights a day. Passenger levels were back to 2019 levels, despite disruption from French air traffic control strikes through April. | At Easter, demand was strong and easyJet operated an average of about 1,600 flights a day. Passenger levels were back to 2019 levels, despite disruption from French air traffic control strikes through April. |
| Despite higher fuel costs, the airline expects to beat analysts’ expectations of a profit of £260m this year, as it raises ticket prices. Last year, easyJet made a headline loss before tax of £178m. | Despite higher fuel costs, the airline expects to beat analysts’ expectations of a profit of £260m this year, as it raises ticket prices. Last year, easyJet made a headline loss before tax of £178m. |
| The company said it had completed its largest ever crew recruitment campaign. Airlines hope to avoid a repeat of last summer when staff shortages led to massive queues at airports, delays and tens of thousands of flights being cancelled. The travel industry struggled to cope with a surge in demand after governments ditched Covid-19 travel restrictions. At the height of the pandemic, thousands of staff were laid off as flights were grounded. | The company said it had completed its largest ever crew recruitment campaign. Airlines hope to avoid a repeat of last summer when staff shortages led to massive queues at airports, delays and tens of thousands of flights being cancelled. The travel industry struggled to cope with a surge in demand after governments ditched Covid-19 travel restrictions. At the height of the pandemic, thousands of staff were laid off as flights were grounded. |
| Since then, the industry has bounced back, as people are keen to travel again after Covid lockdowns and travel bans. | Since then, the industry has bounced back, as people are keen to travel again after Covid lockdowns and travel bans. |
| EasyJet flew 15.6 million passengers between January and March, up from 11.5 million a year earlier. Its load factor, which measures how full planes were, improved to 88% from 78%. | EasyJet flew 15.6 million passengers between January and March, up from 11.5 million a year earlier. Its load factor, which measures how full planes were, improved to 88% from 78%. |
| The airline anticipates that it will make revenues of £2.7bn in the first half to the end of March, against costs of £3.1m, resulting in a half-year loss before tax of between £405m and £425m. | The airline anticipates that it will make revenues of £2.7bn in the first half to the end of March, against costs of £3.1m, resulting in a half-year loss before tax of between £405m and £425m. |
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| Johan Lundgren, the chief executive said: “Demand for easyJet’s flights and holidays has continued to grow in the half, resulting in … a £1bn revenue improvement year on year. | Johan Lundgren, the chief executive said: “Demand for easyJet’s flights and holidays has continued to grow in the half, resulting in … a £1bn revenue improvement year on year. |
| “We see continued strong booking momentum into summer as customers prioritise spending on travel.” | “We see continued strong booking momentum into summer as customers prioritise spending on travel.” |