EasyJet has reported a decline in losses, higher revenues and increased passenger volumes for the first quarter of its new financial year.
The UK low-cost airline’s first quarter – covering the three months to the end of December – show a group headline pre-tax loss of £61m; down from a loss of £126m 12 months prior. Revenue, for the three months, amounted to £2.04bn; representing a year-on-year rise of 13%; and passenger volumes were up by 7% on the corresponding period last year.
While a forecast of a slightly weaker second quarter dented EasyJet’s shares, overall the airline said it remains on track for further growth during 2025 and still expects to reach its medium-term target of £1bn in pre-tax profits.
EasyJet Chief Executive, Kenton Jarvis, said: “EasyJet performed well in the quarter reducing Q1 losses by 52% year on year while flying 7% more customers to an even greater choice of destinations across the network. easyJet holidays continued its growth, achieving around a 40% increase in profits during the period.
“Looking to this summer, we have seen continuing demand for easyJet’s flights and holidays where we have one million more customers already booked, with firm favourites like Palma, Faro and Alicante as well as new destinations like Tunisia and Cairo proving popular. All of this demonstrates positive progress towards our medium term target to deliver more than one billion pounds of profit before tax.”
