easyJet: good annual results, positive outlook

(CercleFinance.com) - On Wednesday, British airline easyJet reported annual profit that is slightly ahead of analysts' expectations, with a positive outlook for FY 2024/2025.


In its non-calendar financial year to end-September, the low-cost carrier said that pre-tax profits had risen by 34% to £610m, against the consensus of £607m.

After a summer season dubbed "record-breaking", Kenton Jarvis - soon to succeed Johan Lundgren as CEO - spoke of a positive outlook, particularly on the most popular routes to North Africa and the Canaries.

For its new financial year, from October, the low-cost airline expects to increase capacity by around 3%.

More importantly, it expects to reduce its usual winter season losses thanks to a "significant" improvement in business over the year-end period.

easyJet points out that 82% of its schedule for H1, to end-March, is already booked.

Following these figures, we expect market estimates for 2024/2025 to be raised, RBC analysts said.

On the London Stock Exchange, easyJet shares rose by 2.7% on Wednesday morning following this publication, posting the biggest increase on the FTSE 100 index.


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