EasyJet Plc Posts Narrower Loss In H1; Total Revenue Up 524%

easyJet plc (ESYJY.PK,EZJ.L) said, for the first-half, the Group has reduced its losses year on year, at the better end of guidance. easyJet flew 23.4 million passengers during the period, up 471% on the prior period.

Looking forward, easyJet expects to operate 90% of fiscal 2019 capacity in third quarter, and has capacity on sale of around 97% of fiscal 2019 flying in fourth quarter.

For the six months ending 31 March 2022, headline loss before tax was 545 million pounds compared to a loss of 701 million pounds, prior year. Headline basic loss per share was 56.0 pence compared to a loss of 106.9 pence.

Reported loss before tax was 557 million pounds compared to a loss of 645 million pounds, last year. Basic loss per share narrowed to 57.2 pence from a loss of 102.0 pence.

Total revenue increased by 524% to 1.50 billion pounds predominantly due to the increase in capacity flown and ancillary products continuing to deliver incremental revenue. Capacity increased to 30.3 million seats from 6.4 million seats, prior year. Passenger revenue increased by 479.4% to 985 million pounds. Group ancillary revenue increased by 632.9% to 513 million pounds.

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