easyJet filled 5 aircraft every minute, which culminated in three record-breaking weekends for sales revenue in Jan
easyJet delivered a strong performance in Q1, better than expected.
easyJet carried almost 50% more customers compared with the same period last year. Load factor was up for the quarter by 10 percentage points and yields were also up. easyJet had a strong booking performance, which has helped manage the effects of very high fuel prices and has ensured that their seasonal loss for the quarter beat expectations.
Here are some key numbers:
- Strong trading performance, offset by high fuel costs, resulted in a loss before tax of £133 million – an £80 million improvement year on year
- Total group revenue for the quarter was £1.5 billion, up 83% versus the same quarter last year
- Passenger revenue was up 78% to £975 million pounds
- Ancillary revenue was £406 million – up 77% year on year
- Revenue per seat improved by 36% year on year, with ticket yield improving 21% year on year
- easyJet holidays delivered £13 million profit
Q2 and beyond
CEO Johan Lungren said “Looking ahead, we continue to see good momentum, with early indications of a strong Easter period ahead of us. While all signs are pointing towards a successful summer, we must still focus relentlessly on controlling the controllables and delivering on our plans. We continue to progress the work we’re doing on operational resilience, and with our recruitment in line with the plan, we are on track to deliver our peak summer schedule.”
Shares are up over 39% in 2023 alone although they were one of the worst-performing shares of 2022…