UK’s easyJet Secures $1.7B Credit Line to Boost Liquidity

easyJet has bolstered its financial position with a new USD1.7 billion revolving credit facility, ensuring liquidity through at least 2030. Announced in its third-quarter trading update for the period ending June 30, 2025, the airline said the facility remains undrawn and replaces two previously undrawn lines: a USD1.75 billion UK Export Finance facility and a USD400 million credit line, both now terminated.

As of June 30, easyJet reported total liquidity of GBP4.9 billion (USD6.5 billion), exceeding its policy threshold by GBP1.5 billion (USD2 billion). The airline also repaid a EUR500 million (USD582 million) eurobond earlier in June, and its net cash position rose to GBP803 million (USD1 billion). All nine planned aircraft deliveries for the quarter were completed, including the reacquisition of two A320neo jets, which released GBP17 million (USD22.8 million) in provisions and reduced future ownership costs.

Despite air traffic control disruptions caused by a French ATC strike in early July, easyJet posted a year-on-year pre-tax profit increase of GBP50 million (USD67 million), totaling GBP286 million (USD384 million) for the quarter. The strike led to unexpected costs of around GBP25 million (USD33.5 million), affecting crew and passenger schedules.

CEO Kenton Jarvis criticized the ATC strike, calling its impact “unacceptable.” Still, the airline’s holidays division performed strongly, with GBP86 million (USD115 million) in profit, up GBP13 million (USD17 million) year-over-year.

Jarvis remains optimistic for FY25, citing robust demand despite fuel price and ATC challenges. With 67% of Q4 capacity sold, results hinge on late summer bookings and yield performance.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com