EasyJet Reports Strong Q1 Performance, Reduces Losses by 52%
The parent company of easyJet has announced significant improvements in its financial performance for the first quarter of the 2024-2025 financial year (Q1). From October 1 to December 31, 2024, easyJet reduced its losses by £65 million ($84.5 million), finishing the quarter with a £61 million ($79.3 million) loss before tax. This represents a 52% decrease compared to the same period last year.
Passenger numbers for easyJet increased by 7% to 21.2 million, while the airline’s load factor, a key measure of how full its flights were, rose by two percentage points to 88%. Additionally, capacity (measured in Available Seat Kilometers) grew by 11% year-on-year, and fuel-based costs fell by 13%, leading to a 4% decrease in cost per seat kilometer.
easyJet’s package holiday arm, easyJet Holidays, also performed strongly, posting profits of £43 million ($55.9 million), an increase of £12 million ($15.6 million) or 39% compared to the previous year. The subsidiary expects customer growth of 25% for the current financial year.
The airline’s statement highlighted that the improved Q1 performance was driven by strong demand for its primary airport network and package holidays, effective cost control, and favorable fuel prices. Additionally, six new A320neo aircraft were delivered during the quarter, with another two expected to be operational by summer 2025.
Looking ahead, easyJet noted that while Q1 improvements are expected to be partially offset by modestly lower unit revenue in Q2, the airline remains optimistic about its future. Kenton Jarvis, CEO of easyJet, emphasized the company’s progress towards its medium-term goal of achieving more than £1 billion ($1.3 billion) in profit before tax. He also noted strong demand for flights and holidays, with bookings for Summer 2025 already surpassing the previous year by one million customers.
Popular destinations such as Palma, Faro, and Alicante, as well as new locations like Tunisia and Cairo, are seeing strong demand. EasyJet’s Q1 results demonstrate positive growth and indicate continued momentum as the airline heads into the busy Easter period and looks towards the summer.
easyJet is on track to meet its financial goals, with positive booking trends supporting a full-year revenue projection of £709 million ($921 million) for the 2024-2025 fiscal year, ending on September 30, 2025. The airline’s strategic investments in fleet expansion, strong customer demand, and efficient cost management all point to a bright future for the carrier.
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