Early winter losses fall at easyJet as passenger numbers continue to soar
The parent company of easyJet has revealed that the airline group managed to significantly improve its financial performance during the last three months of 2024, the first quarter of its current financial year (Q1). During the period October 1, 2024, until December 31, 2024, the airline reduced its losses by an impressive £65 million ($84.5), rounding out the quarter with losses before tax of £61 million ($79.3). This figure is down 52% over the same period the previous year.
During the period, the low-cost carrier saw passenger numbers grow to 21.2 million, up by 7%, while its network passenger load factor, a measure of how full its flights were on average, rose two percentage points to 88%. Capacity (measured in Available Seat Kilometers) rose by 11% year-on-year, while fuel-based costs fell by 13% in the period, which drove down costs per seat kilometer by 4% year-on-year.
At the group’s easyJet Holidays subsidiary, the package holiday arm made £43 million ($55.9) in profits, up £12 million ($15.6) or 39% on the previous year. The brand is expecting customer growth of a further 25% during the current financial year.
Markus Mainka / ShutterstockAccording to an airline statement, “easyJet’s first quarter result significantly improved as demand for our primary airport network and package holidays continued, alongside cost control and favorable fuel prices. Six new A320neo family aircraft were delivered and taken into ownership in the quarter, a seventh aircraft was delivered in January [2025] and another two are expected to be operational by the peak summer [of 2025].”
“This winter’s underlying result will reflect Q1 improvements, partially offset by Q2 underlying unit revenue trends being modestly lower than Q1, as capacity investments are naturally requiring stimulation while driving productivity and utilization benefits this winter with route maturity benefits expected next winter and beyond.”
Kenton Jarvis, CEO of easyJet, commenting on the results said, “easyJet performed well in the quarter reducing Q1 losses by 52% year on year while flying 7% more customers to an even greater choice of destinations across the network. easyJet holidays continued its growth, achieving around a 40% increase in profits during the period.
“Looking to this summer, we have seen continuing demand for easyJet’s flights and holidays where we have one million more customers already booked, with firm favorites like Palma, Faro, and Alicante as well as new destinations like Tunisia and Cairo proving popular. All of this demonstrates positive progress towards our medium-term target to deliver more than one billion pounds of profit before tax.”
“The traditionally busy Easter period is seeing strong demand and bookings continue to build for Summer 2025. At this early stage of the year, the current booking trends are supportive of [the full 2025-year projections]. We remain focused and confident in the progress towards our medium-term target of sustainably generating over £1 billion ($1.3 billion) of profit before tax.”
Ceri Breeze / ShutterstockIn terms of the coming months, easyJet believes it remains in a strong position to take advantage of the burgeoning demand for air travel. The airline said “current booking trends are supportive” of the market consensus of around £709m ($921 million) for the full financial year, which ends on September 30, 2025.
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The post Early winter losses fall at easyJet as passenger numbers continue to soar appeared first on AeroTime.
The parent company of easyJet has revealed that the airline group managed to significantly improve its financial performance…
The post Early winter losses fall at easyJet as passenger numbers continue to soar appeared first on AeroTime.
