In The News Posted October 13, 2022 Share Posted October 13, 2022 DALLAS – Despite facing an ‘uncertain macro-economic environment,’ easyJet (U2) has announced that bookings for the coming winter season and summer of 2023 have been progressing well. This comes after the airline revealed strong fourth-quarter results. Over 24 million passengers were carried during the period, which covers the airline’s peak summer months of July-September. U2 also enjoyed a load factor of some 92% with solid yields across its network. Narrowing Losses The airline is now forecast to post an annual headline loss before tax of between £170 million to £190 million (US$188-US$211 million). U2 Airbus A320 (G-UZHD)> Photo: Alberto Cucini/Airways. These figures include the £75 million (US$83.1 million) losses in additional disruption costs, which caused many of its flights to be cancelled earlier this year. It also covers a £64 million (US$70.9 million) loss from ‘balance sheet revaluations.’ Bosses said that operations have now returned to normal. Indeed, ‘on the day’ cancellations fell below 2019 levels thanks to ‘actions put in place earlier this summer. easyJet Holidays, which the carrier launched in November 2019, has also seen a strong performance, achieving a pre-tax profit of more than £35 million (US$38.8 million). Moving Forward U2 now expects to fly around 20 million customers in the first quarter of the 2023 financial year. This is over 30% up year on year for the same travel periods and back to pre-pandemic levels. A new easyJet Holidays livery was applied to Airbus A320 (G-EZOA). Photo: easyJet Holidays. Johan Lundgren, U2 CEO, said, “easyJet achieved a record bounce back this summer…as demand for our leading network and services remains strong.” “easyJet is Europe’s largest operator at primary airports with one of the strongest balance sheets in the aviation industry. We face the uncertain macro-economic environment with many strengths through our brand, network and business model, which enable us to provide low fares to millions despite the rising cost of living.” Featured Image: easyJet Airbus A320 (G-EZGY). Photo: Alberto Cucini/Airways. View the full article Link to comment Share on other sites More sharing options...
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