EasyJet Reports Significant Reduction in Winter Losses and Positive Outlook for FY24

easyJet has announced a notable reduction in its winter losses for the first half of the fiscal year 2024, exceeding £50 million compared to the previous year. This improvement is attributed to strong passenger demand, enhanced revenue from ticket and ancillary yields, and controlled non-fuel costs which aligned with their guidance.

The airline reported an 8% year-over-year increase in passengers and a similar rise in revenue per seat, despite a slight drop in load factor. Moreover, easyJet holidays contributed significantly with a profit before tax of approximately £31 million, marking a 206% increase from the prior year. The company also highlighted operational efficiency and productivity which helped maintain costs.

Looking ahead, easyJet maintains a positive outlook for the remainder of FY24, with anticipated growth in capacity, revenue per seat, and customer numbers for easyJet holidays. They expect the second half of FY24 to continue showing resilience with seat sales already performing well for both Q3 and Q4.

Furthermore, easyJet’s strategic addition of new bases in Alicante and Birmingham underscores their commitment to expanding service options for travelers across Europe, catering to the increased demand for their flights and holiday packages.