EasyJet narrows losses and expects to operate at pre-Covid capacity this summer
EasyJet on Thursday said it expected to return to operating at pre-pandemic capacity for the peak European summer season. Revenues surged 80% in the first half while strong passenger growth sharply reduced losses in the traditionally quieter winter months, it said. The outlook from the UK-based low-cost airline confirms the picture painted by other European carriers of a strong post-pandemic resurgence in demand for flights and travellers’ willingness to pay far higher fares. CE Johan Lundgren said there had been strong “booking momentum” since the start of 2023. “What we can confirm today is that the strong demand that’s reflected in the booking trend is continuing really across the whole network,” Lundgren added. Pre-tax losses for the six months to March 31 were GBP415m, down 25% compared with the same period last year, while passenger numbers were up 41%. Load factor — the proportion of available seats sold — improved by 10 percentage points to 87.5%. First-half revenue rose to GBP2.7b. EasyJet’s improved outlook follows a revamp of parts of its network, including a cutting of capacity for flights from Berlin that generated a first-half exceptional loss of GBP4m to reflect the cost of surrendering slots at the city’s Brandenburg airport. Lundgren said capacity in most of the company’s markets in the July to September quarter would be greater than in summer 2019, the last before the coronavirus pandemic. “Overall, if we take the whole of the network we’re back to pre-pandemic levels because we see that the European consumer sentiment continues to be very strong and robust,” he said. “There’s a very strong demand for flights and travel.”<br/>
https://portal.staralliance.com/cms/news/hot-topics/2023-05-19/unaligned/easyjet-narrows-losses-and-expects-to-operate-at-pre-covid-capacity-this-summer
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EasyJet narrows losses and expects to operate at pre-Covid capacity this summer
EasyJet on Thursday said it expected to return to operating at pre-pandemic capacity for the peak European summer season. Revenues surged 80% in the first half while strong passenger growth sharply reduced losses in the traditionally quieter winter months, it said. The outlook from the UK-based low-cost airline confirms the picture painted by other European carriers of a strong post-pandemic resurgence in demand for flights and travellers’ willingness to pay far higher fares. CE Johan Lundgren said there had been strong “booking momentum” since the start of 2023. “What we can confirm today is that the strong demand that’s reflected in the booking trend is continuing really across the whole network,” Lundgren added. Pre-tax losses for the six months to March 31 were GBP415m, down 25% compared with the same period last year, while passenger numbers were up 41%. Load factor — the proportion of available seats sold — improved by 10 percentage points to 87.5%. First-half revenue rose to GBP2.7b. EasyJet’s improved outlook follows a revamp of parts of its network, including a cutting of capacity for flights from Berlin that generated a first-half exceptional loss of GBP4m to reflect the cost of surrendering slots at the city’s Brandenburg airport. Lundgren said capacity in most of the company’s markets in the July to September quarter would be greater than in summer 2019, the last before the coronavirus pandemic. “Overall, if we take the whole of the network we’re back to pre-pandemic levels because we see that the European consumer sentiment continues to be very strong and robust,” he said. “There’s a very strong demand for flights and travel.”<br/>
