EasyJet has cut its first half loss by £50 million to between £340m and £360m.

Passenger numbers for the first six months to the end of March 2024 were up 8% year on year, ticket yield rose 9% and ancillary yield increased 10%.

EasyJet holidays made £31m pre-tax profit, up more than 200% over the same period of the previous year, with a 42% increase in customers.

EasyJet said the improvement in its results was driven by ‘targeted capacity growth’ and productivity improvements.

It said it had managed to cut is winter loss despite higher fuel costs and the conflict in the Middle East, which resulted in a direct impact of about £40m for the first half of 2024.

EasyJet has since grounded its flights to Israel for the rest of the summer, with the aircraft being deployed elsewhere in its network.