easyJet, the U.K. budget airline, has announced a significant improvement in its third-quarter financial results, citing the rise in passenger numbers and strong momentum in winter bookings. The company reported a headline pretax profit of £203 million ($262.7 million) for the three months ended June 30, compared to a loss of £114 million in the same period last year. This adjusted profit excludes exceptional and one-off metrics.
The airline’s winter season is off to a promising start, with higher ticket yields and load factors surpassing the previous year’s performance. easyJet has increased its planned capacity by over 15% for the December quarter, reflecting growing confidence in travel demand during the upcoming months.
In addition to the positive financial outcomes, easyJet Holidays has also contributed to the company’s strong performance. It recorded a pretax profit of £49 million for the quarter and is expected to achieve more than £100 million for the full year, further bolstering the overall group result.
Significant growth was observed in revenues as well, with total revenue for the quarter reaching £2.36 billion, up from £1.76 billion in the previous year. Passenger revenue showed remarkable growth, increasing to £1.50 billion from £1.15 billion, while airline ancillary revenue rose to £622 million from £486 million in 2022.
The rise in passenger numbers further emphasizes easyJet’s success, with 23.45 million passengers traveling during this period compared to 22 million last year. The load factor, indicating the plane’s occupancy rate, also improved to 90% from 88% in the previous year.
Overall, easyJet’s impressive performance reflects its ability to adapt and capitalize on improving market conditions. With rising passenger numbers, strong winter bookings, and robust financial results, the airline continues to solidify its position as a key player in the budget airline industry.
