Low-cost airline easyJet has announced that it expects to beat current market expectations for 2023, based on the strength of bookings into the summer and a return to full-year profit as the travel industry recovers from pandemic restrictions. The British airline reported a headline loss before tax of £133 million ($163.9 million) for the quarter ending December, but said it expects its loss before tax for the first half to be significantly better than the first half of 2022. easyJet Holidays also upgraded expectations from 30% customer growth to around 50% year-on-year. CEO Johan Lundgren said in a statement, “This strong booking performance, aided by the airline’s step-changed revenue capability, has driven an £80 million year-on-year boost in the first quarter with continued momentum as customers prioritize spending on holidays for the year ahead
The company’s strong bookings and return to full-year profit is a testament to the resilience of the travel industry and the pent-up demand for holidays among consumers. He also mentioned that the airline saw record-breaking sales revenue in recent weekends as customers booked holidays in popular destinations such as the Greek islands and Spain.
The airline also announced that it had almost 50% more customers than last year and that it expects its loss before tax for the first half to be significantly better than in the first half of 2022. The news sent shares in easyJet soaring, with the company’s stock rising 10% to a seven-month high of 516 pence. Other airlines, such as WizzAir and IAG, also saw a rise in their shares in response to the positive news. EasyJet’s announcement serves as a reminder that the travel industry is not out of the woods yet, but there is hope that the worst may be behind us.
