Easyjet first half-year loss of £533m (+44%)
The low-cost airline reported a £25 million increase in costs due to fuel. Revenues up 10%
by Mara Monti
A negative first half of the year for easyJet, which reported a loss of £532 million, compared to £359 million in the same period last year, a deterioration of 44%. However, the result is in line with what was announced on 16 March, when the company predicted a loss of between £540 million and £560 million.
The accounts were mainly supported by the growth of EasyJet Holidays, whose turnover increased by 30%. The overall result, however, was affected by both the investment linked to the first year of operations at Milan Linate and Rome Fiumicino airports, 'which recorded results in line with expectations, equivalent to an investment cost of GBP 30 million,' a note said, and higher fuel costs, which increased by GBP 25 million in March.
Despite the complex environment, the company assured business continuity. "We are not experiencing any disruption in fuel supply, we continue to operate as normal and our customers can book with confidence," CEO Kenton Jarvis said in a statement.
EasyJet also reported that 58% of bookings for the second half of the year have already been sold, in a context where customers seem to prefer holidays closer to home. In the same period last year, the sales rate for the April-September period was 77%. However, uncertainties related to geopolitical tensions and the duration of the ongoing conflict remain.
In response to declining demand for eastern Mediterranean destinations, the carrier has already begun to reallocate some capacity to domestic routes. In parallel, the company plans to launch a loyalty programme in 2027 with the aim of strengthening customer loyalty.
