Low Cost & Regional

easyJet returns to profit as passenger numbers and revenue grows

photo_camera EDITORIAL USE ONLY The first holiday and leisure flight, destined for Faro in Portugal, takes-off at Gatwick Airport, as easyJet relaunch flights from the UK to green-lit destinations today, for the first time this year. Picture date: Monday May 17, 2021. PA Photo. Picture date: Monday May 17, 2021. Photo credit should read: David Parry/PA Wire

Third-quarter results for UK-based low cost carrier easyJet show a pre-tax profit of £203m. In the same period last year, the group lost £114m.

Headline EBITDAR (earnings before tax, interest, deductions, amortisations and restructuring costs) jumped by 261% to £372m from £103m last year.

easyJet aircraft in file photo dated October 2021

Demand for the airline’s package holidays and other ancillary products significantly contributed to the firm’s profit. Seat sales were up five percent and load facto also increased slightly from 88% to 90%.

Despite the positive results, the airline does face headwinds regarding the current situation of regional aviation in Europe. Industrial action at multiple airports across the continent coupled with restricted airspace due to the no-fly areas around the Russian border led easyJet to cancel 1,700 flights over the summer.

Johan Lundgren, CEO of easyJet, said, “We continue to see good momentum as we move into Q4 where we will be operating over 160,000 flights and expect to deliver another record PBT performance. This winter we are adding more than 15 percent capacity and we see bookings ahead of the same period last year.”

Sign In

Lost your password?