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EasyJet is back in the green, but still lags the sector

2023-11-28T17:48:19.245Z

Highlights: EasyJet is back in the green, but still lags the sector. After three years of losses, the low-cost airline has returned to profit in its 2022-2023 financial year. It posted a net profit of 324 million pounds (374 million euros), compared with a loss of 169 million pounds a year earlier. Like all airlines, the British airline took full advantage of an exceptional summer 2023 in the skies over Europe. Even though the conflict in the Middle East will impact easyJet's accounts at the beginning of the winter, its leader remains confident for 2024.


DECRYPTION - After three years of losses, the low-cost airline has returned to profit in its 2022-2023 financial year.


EasyJet has finally turned the page on the pandemic. After three consecutive years in the red, the low-cost airline returned to profit in its 2022-2023 financial year, which ended on September 30. It posted a net profit of 324 million pounds (374 million euros), compared with a loss of 169 million pounds a year earlier.

Like all airlines, the British airline took full advantage of an exceptional summer 2023 in the skies over Europe. "The record summer performance despite high fuel costs and challenges from the external operating environment demonstrates the success of our strategy," said easyJet Chief Executive Johan Lundgren.

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Buoyed by these tailwinds, the company saw its revenue jump 42% to £8.2 billion for the full year. Even though the conflict in the Middle East will impact easyJet's accounts at the beginning of the winter, its leader remains confident for 2024. "The outlook...

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Source: lefigaro

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