EasyJet posts better-than-expected £545m loss

By Lisa James
19/05/2022
Home » EasyJet posts better-than-expected £545m loss

Pent-up demand after the removal of COVID travel restrictions and a refocus on selling ancillary products helped easyJet achieve a better-than-expected half-year loss.

The airline has revealed a loss before tax of £545 million for the six months to 31 March 2022, down from £701 million in the same period last year.

EasyJet posted its results at the same time as announcing it has put its spring 2023 schedule on sale, with 107 destinations from the UK.

Chief executive Johan Lundgren said: “EasyJet has reduced its losses year on year, at the better end of guidance.

“The pent-up demand and removal of travel restrictions provided for a strong and sustained recovery in trading which has been further boosted as result of our actions.”

For the last quarter of 2022, sold ticket yields are 15% above 2019 and load factors are expected to by more than 90%.

In the last 10 weeks, bookings have been 6% above the same period in 2019.

Mr Lundgren added: “We have transformed the airline during the pandemic which has enabled us to emerge with renewed strength, underpinned by a product, network and service that customers really value.”

“Since Easter we have been flying up to a quarter of a million customers and 1,600 flights every day and in the second half leisure and domestic capacity will be above 2019 levels.

“It has been well documented that the industry is experiencing some operational issues so, as you would expect, we have been absolutely focused on taking action to ensure we have strengthened our operational resilience for this summer so we can deliver a great, reliable operation to our customers.”

The airline says the coming May half term is set to be the busiest we’ve been since before the pandemic with over two million customers set to fly with the airline across Europe.

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