Wednesday, June 7, 2023

EasyJet raises profit expectations on robust travel demand

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British airline easyJet expects full-year profit to beat market forecasts, it said on Tuesday, encouraged by summer bookings and strong demand over Easter despite French strikes.

Airlines in Europe have reported robust summer bookings despite high inflation and an uncertain macroeconomic outlook.

“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,” said CEO Johan Lundgren.

Market expectations for easyJet’s full-year profit stand at about 260 million pounds ($322.30 million), the company said.

The airline’s passenger capacity grew 40% in the first three months of 2023, it said, with 99.8% of Easter flights operating despite strikes among French air traffic controllers.

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