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easyJet sees surge in revenue with strong booking momentum into summer

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EasyJet, a low-cost airline, has reported good financial results as it plans to reach pre-pandemic capacity levels in the summer of 2023.

The carrier sounded upbeat in a trading update released on May 18, 2023, with sales of £2.69 billion in the six months leading up to March 31, 2023, a 79% rise from the year prior.

EasyJet said the results were driven by “network transformation, improved revenue capability, and strong demand”.

Despite the French strikes, the airline performed well throughout Easter, operating 98.8% of its scheduled flights and averaging about 1,600 flights per day.

The carrier said: “Whilst we remain mindful of the uncertain macroeconomic outlook across the globe, based on current high levels of demand and strong bookings, easyJet anticipates exceeding current market profit expectations of £260 million for FY23.”

For the first half of the year, a headline loss before tax of up to £425 million ($528 million) is anticipated; but, once the airline enters its busiest season, these expenses should be recovered.

This outcome is achieved despite obstacles including high gasoline prices, widespread inflation, and the expense of bolstering the operation’s resilience before the summer season.

EasyJet increased its capacity during the course of the quarter, increasing it by 40% between January and March 2023. As of right now, 80% of its summer vacation packages have been booked.

Johan Lundgren, CEO of easyJet said: “Demand for easyJet’s flights and holidays has continued to grow in the half, resulting in more than a £120 million pound improvement in our performance as well as a billion-pound revenue improvement year on year. This is further enhanced by our transformed network of popular destinations and improved revenue capability,”

He added: “We see continued strong booking momentum into summer as customers prioritise spending on travel and choose airlines like easyJet offering the best value and destination mix, as well as easyJet holidays which is continuing its steep growth trajectory as the fastest growing holidays company in the UK.”

The airline stated on May 18, 2023, that it will be extending its UK network by setting up a new base at Birmingham Airport (BHX) in March 2024.

Around 100 direct jobs for pilots and crew will be created in the UK as a result of the airline’s decision to station three 186-seat A320 aircraft at the airport.

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