20th Jul 2023 10:44
(Alliance News) - easyJet PLC on Thursday said that its quarterly revenue jumped, whilst it swung to a profit.
In its third quarter ended June 30, the Luton Airport-based low-cost airline said revenue jumped 34% to GBP2.36 billion from GBP1.76 billion a year earlier.
Passenger revenue increased 30% to GBP1.50 billion from GBP1.15 billion a year earlier. Airline ancillary revenue was up 28% to GBP622 million from GBP486 million. Holidays revenue more than doubled to GBP237 million from GBP117 million.
easyJet swung to a headline pretax profit of GBP203 million from a loss of GBP114 million.
Looking ahead, easyJet said that based on current booking trends, it expects to deliver a "record" pretax profit in its final quarter of its financial year. Although, it noted that this guidance is subject to the operational environment with the whole industry seeing challenging conditions this summer.
Moving into this winter, easyJet said it is seeing "good" booking momentum, with sold ticket yields and load factors ahead year-on-year, and planned capacity up over 15% for the December quarter.
"We are absolutely focused on mitigating the impact of the challenging external environment on our customers and flying them on their well-earned holidays," said Chief Executive Officer Johan Lundgren.
"We continue to see good momentum as we move into [fourth quarter] where we will be operating over 160,000 flights and expect to deliver another record [pretax profit] performance. This winter we are adding more than 15% capacity and we see bookings ahead of the same period last year."
Shares in easyJet were down 2.7% to 481.40 pence each in London on Thursday morning.
By Sophie Rose, Alliance News reporter
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