Low-cost airline easyJet saw strong improvement in the 12 months to September but will remain in the red for the year.
In a trading update, easyJet said it expects to report a group pre-tax loss of between £170m and £190m — compared to the loss of more than £1bn in 2020 and 2021.
Operating profit for the full year is expected to be breakeven.
Thanks to a “record bounce back” over the summer, the airline anticpates operating profit for the fourth quarter of between £525m and £545m.
Passenger numbers almost doubled compared to last summer, reaching 24 million, and group revenue grew to £2.5bn from £1bn a year ago.
easyJet expects to fly around 20 million passengers in October-December, its first quarter of fiscal 2023. This is an increase of more than 30% year-on-year, with UK capacity during the peak travel periods, such as October half term and Christmas week, back to pre-pandemic levels.
“We face the uncertain macroeconomic environment with many strengths through our brand, network and business model which enable us to provide low fares to millions despite the rising cost of living,” said chief executive Johan Lundgren.
