EasyJet has said it is on course to beat full-year financial expectations after reducing first-half losses and seeing a pattern of strong bookings extend beyond Easter into the summer season.
The UK low fares airline, in a trading update, said it expects to generate around £260m in profits for its current financial year, which runs to the end of September.
That is based on current high levels of passenger demand and strong bookings, but the carrier said it remains mindful of the “uncertain macroeconomic outlook” across the world.
EasyJet said its first half losses are likely to have been slashed to between £405m and £425m, with its recovery coming despite rising fuel prices and inflation.
EasyJet chief executive Johan Lundgren said: “Demand for EasyJet’s flights and holidays has continued to grow in the half, resulting in more than a £120m improvement in our performance as well as a billion pound revenue improvement year on year. This is further enhanced by our transformed network of popular destinations and improved revenue capability.
“We see continued strong booking momentum into summer as customers prioritise spending on travel and choose airlines like easyJet offering the best value and destination mix, as well as EasyJet holidays which is continuing its steep growth trajectory as the fastest growing holidays company in the UK.
“All of this means EasyJet expects to outperform FY23 market expectations.”
