easyJet cuts Q1 losses by 52% on festive demand | Inventory Information
Investing.com — easyJet’s (LON:) first-quarter end result improved significantly, pushed by sturdy vacation season demand and lowered prices.
The airline’s working loss for the quarter ending December 31, 2024, was £61 million, a £65 million enchancment in comparison with the identical period within the earlier yr, representing a 52% year-over-year enchancment.
Passenger numbers grew by 7% year-on-year to 21.2 million, whereas accessible seat kilometers elevated by 11%, reflecting the airline’s efforts to broaden capability and optimize operations.
The airline additionally recorded a regular load issue, hovering round 88%, indicating sturdy demand during the historically busy festive season.
The discount in losses was partly attributed to decrease fuel prices, with fuel price per accessible seat kilometer down 13% year-on-year.
Non-fuel CASK remained steady, signaling efficient price management in different areas of operation.
EasyJet Holidays, a essential half of the company’s diversification strategy, generated a revenue of £43 million within the quarter, an increase of £12 million in comparison with the earlier yr.
EasyJet anticipates an 8% increase in ASK capability for fiscal yr 2025. The airline expects continued sturdy demand for its flights and vacation packages.
“Trying to this summer season, we now have seen persevering with demand for easyJet’s flights and holidays the place we now have a million more prospects already booked, with firm favourites like Palma, Faro and Alicante in addition to new locations like Tunisia and Cairo proving standard,” mentioned Kenton Jarvis, chief government at easyJet in a assertion.
The company acknowledged that its present efficiency helps its purpose of attaining over £1 billion in annual pre-tax revenue. This purpose can be achieved by way of continued capability growth and cost-saving measures.
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