EasyJet reports quarterly earnings and promises record summer revenue

One of Europe’s largest low-cost carriers, the British airline EasyJet, received a record quarterly profit before taxes, which exceeded analysts’ expectations, of £203m. A year earlier, the company had a loss of £114m in the third quarter. Revenue for the reporting period rose from £1.76bn to £2.36bn.

Behind the strong performance is a significant recovery in consumer demand for air travel and a 5% increase in the number of flights. Even despite the large-scale strikes of dispatchers and ground services workers at airports and height airfare prices in Europe are up nearly 30% year-over-year, demand for tickets is only growing and EasyJet’s ticketing revenue has increased by 22%. The company also expects record profits to continue in the fourth quarter, from July to September, as the cost per seat has flattened out as oil prices stabilize. It is expected that the number of bookings for the winter season will also grow.

Alena Miklashevskaya