EasyJet confident about summer as H1 losses narrow

(Sharecast News) - Budget airline easyJet expressed confidence about the summer season on Thursday as it reported a narrowing of its first-half losses, in line with its guidance. In the six months to the end of March, the headline loss before tax narrowed to £411m from £545m in the same period a year earlier. This was driven by increased capacity, load factors and yields now that all travel restrictions have lifted. In April, easyJet had guided to a loss of between £405m and £425m.

Total revenue rose 80% during the half to £2.7bn, mainly due to pricing strength, increased flown capacity, improved load factors and ancillary products continuing to deliver incremental revenue, the airline said.

It flew 33.1m passengers, up 41% on the first half a year earlier.

Chief executive Johan Lundgren said: "EasyJet's optimised network combined with the strong demand seen for flights and holidays, enhanced revenue capabilities and operational resilience, means we enter the summer with confidence."