UK-based low-cost airline easyJet cuts pre-tax loss by 52% during first quarter financial period as it looks to peak season in 2025 and stays on track for medium-term full-year profit target sterling did. 1 billion ($1.2 billion).
EasyJet outlined its October to December results on 22 January, saying it had achieved a pre-tax loss of £61m in a traditionally weak quarter, adding to cost control and favorable fuel prices, as well as key He cited demand for airport and holiday packaged products. For business. EasyJet's overall revenue rose 13% to £2bn.
Chief executive Kenton Jarvis, who took over from Johan Lundgren on January 1, said: “EasyJet performed well in the quarter, reducing its first-quarter loss by 52% year-on-year, with a % more customers to a wider range of destinations across our network.” .
“The EasyJet Holidays business continues to grow, achieving approximately 40% profit growth over the period.”
The company said it expects some slowdown in unit revenue in the fiscal second quarter, but that is within expectations as capacity increases by about 14%. The airline said it expects to see the benefits of “route maturation” from this expansion from next winter onwards.
Heading into the crucial second half of the financial year, when EasyJet traditionally makes money, the airline said demand and bookings were higher than last year, supporting consensus for a full-year pre-tax profit of just over £700m. . .
EasyJet expects to increase capacity by approximately 8% for the full year.
The company added six Airbus A320neo family jets in the first quarter and expects more examples in January, with two more coming into service before the summer peak season. The total number of aircraft in our fleet is approximately 350.
