EasyJet announces new CEO as it confirms reduced winter losses

New Easyjet CEO
By Linsey McNeill
16/05/2024
Home » EasyJet announces new CEO as it confirms reduced winter losses

EasyJet has revealed that CEO Johan Lundgren will retire from the airline next year, when he will be replaced by Chief Financial Officer Kenton Jarvis.

The news was announced as easyJet confirmed that it had cut its pre-tax winter losses by £61m million to £350m following a 12% increase in capacity.

It also confirmed easyJet holidays has seen a 42% growth in customer numbers for the six months to the end of March. Johan said 15% of customers travelling on flights from its newest base at Birmingham Airport have booked packages.

The airline announced today that it will open a 10th base at Southend next March, with holiday packages on six new routes available to book from tomorrow.

“EasyJet’s targeted growth and focus on productivity has delivered a reduction in winter losses, boosted by our trusted brand and network that we continue to invest in,” said Johan.

“Our two newest bases, Alicante and Birmingham, are achieving passenger numbers well above the network average and we have announced a tenth UK base at London Southend from next March, continuing the growth of our leisure network in the UK where easyJet holidays plays an increasingly important role. 

“We are now absolutely focused on another record summer which is expected to deliver strong FY24 (full year) earnings growth and are on track to achieve our medium term targets.”

Speaking of his retirement from the airline after seven years at the helm, Johan said: “I will leave easyJet with a great sense of loyalty and of pride at the progress made and the potential the company has for the future.”

He said he will work with Kenton and the rest of the executive team to ensure a smooth handover at the end of the year.

Chair Sir Stephen Hester said: “We are sad that Johan will retire from easyJet. He has done an excellent job as our CEO since December 2017; steering the company through the immense challenges of the COVID period, and setting up a clear strategy and strong execution plan towards its ambition of ‘being Europe’s most loved airline’, winning for customers, shareholders and our people.

“There is good positive momentum and Johan will be with us to close out the current year which we hope will be another one of strong progress. 

“We are also delighted to be able to announce Kenton as our next CEO, allowing an orderly and seamless transition. The appointment was made after a thorough process with a strong internal and external field of candidates. We are focused on executing the medium-term plan and related financial targets set out earlier this year and see Kenton as the ideal person to lead our executive team to that end. 

“He has impressed since joining easyJet in 2021, is fully bought in to the plan and will hit the ground running.” 

Share this article

Latest News

Loading