London, May 16, 2024 (Financeflashnews) – British low-cost airline EasyJet said on Thursday that its first-half loss for fiscal year 2023/24 narrowed and that revenue rose. The airline expects revenue growth during the key summer season.
The low-cost carrier’s total pre-tax loss for the six months to the end of March 2024 narrowed to £350 million (€407.73 million) from £411 million in the same period a year ago.
Airline revenue in the first half rose 22% to £3.27 billion from £2.69 billion a year ago. This was driven by an increase in flying capacity, fares and ancillary products. Revenue per seat rose 5% to £69.87.
EasyJet carried 36.7 million passengers in the six months, up 11% from a year ago, as demand for flights continues to rise.
Looking ahead, for the full fiscal year to the end of September 2024, the company expects to be profitable. It said it is on track to achieve its ambitious medium-term target of £1 billion in pre-tax profit.
EasyJet also announced on Thursday that CEO Johan Lundgren will step down from his role in early 2025 after seven years in the position. He will be replaced by Kenton Jarvis.
Key points:
- EasyJet’s first-half loss narrowed by 14%.
- Revenue rose 22%.
- Passenger numbers were up 11%.
- The company expects summer growth.
- Lundgren will step down as CEO in early 2025.
Sources:
- TASR: https://www.tasr.sk/
- RTTNews: https://www.rttnews.com/
