EasyJet: Q1 losses decline

(CercleFinance.com) - easyJet announced on Wednesday that it had halved its losses in Q1 to end-December, while expressing confidence in its ability to meet consensus forecasts for FY 2024/2025.


In a trading update this morning, the airline reported a pre-tax loss of £61m for the past three months, compared with a shortfall of £126m a year earlier.

This loss is broadly in line with the £59m expected by analysts.

The winter season is traditionally a slow period for airlines, which tend to generate their profits during the summer quarters, which are much busier in terms of activity.

In its press release, easyJet also indicated that its loss for its first winter half-year should be lower this year than last, thanks in particular to lower kerosene prices.

Q1 sales rose by 11% to almost £2.04bn, driven by a 7% increase in the number of passengers carried, to 21.2 million.

The British airline, number two in Europe's low-cost segment behind Ryanair, says it expects full-year pre-tax profit to be in line with the consensus, which is currently targeting an annual profit of £709m.

It also says it is well on the way to achieving its medium-term taxable income target of over £1bn.

On the London Stock Exchange, easyJet shares lost over 4% in early trading on Wednesday morning, the biggest faller in a FTSE 100 index that was up around 0.2%.

The stock had climbed 10% in 2024, on the back of a recovery in demand and an improvement in its financial performance.


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