Airline easyJet expects to accelerate its mid-term targets as demand continues to be strong for the summer season.
The total loss before tax for the first half year amounted to 411 million pounds. EasyJet announced in April that the loss was expected to be between £405 million and £425 million. A year earlier, a loss of 545 million pounds was made. The loss was reduced by taking several measures, including optimizing the network and continuously managing costs.
Total revenues in the first half rose 80 percent to around £2.7 billion. The growth was mainly driven by higher prices, increased capacity, improved capacity utilization and higher revenues from additional products. However, costs rose by more than 50 percent to £3.1 billion. This was because more aircraft were deployed again, significantly increasing fuel costs.
“easyJet’s optimized network, coupled with strong demand for flights and easyJet holidays, improved revenue and operational resilience, means we are confident going into the summer,” said CEO Johan Lundgren. According to Lundgren, recent research has shown that travel is a priority for many households despite high inflation and that holidaymakers are increasingly opting for affordable airlines.
“All of this progress should accelerate the achievement of our medium-term objectives while continuing to capitalize on the opportunities ahead,” said the CEO. EasyJet is also introducing a new base in Birmingham, UK, creating hundreds of jobs.