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EasyJet Reports Strong Performance In Q4; Sees Pre-tax Loss, Break Even Headline EBIT In FY22

easyJet Plc (ESYJY.PK,EZJ.L) Thursday reported strong performance in the fourth quarter. For fiscal 2022, the company expects a headline loss before tax, but break even headline EBIT.

In the fourth quarter, headline EBIT is expected to be between 525 million pounds and 545 million pounds. EBITDAR would be between 665 million pounds and 685 million pounds, in line with the fourth quarter in pre-pandemic fiscal 2019.

Total group revenue and headline EBIT costs for the fourth quarter are expected to be around 2.52 billion pounds and around 1.98 billion pounds, respectively.

In its trading update, the company said network optimisation is driving demand as fourth-quarter load factors recover to 92 percent from 77 percent last year. Passenger numbers are expected to be almost doubling to 24.3 million from last year's 13.4 million.

During its fourth quarter, easyJet flew 26.3 million seats, operating 88 percent of FY19 capacity.

For fiscal 2022, Group headline loss before tax will be between 170 million pounds and 190 million pounds.

Group headline EBIT is expected to be break even.

The company noted that easyJet holidays generated annual profit before tax in excess of 35 million pounds.

Looking ahead for the first quarter of fiscal 2023, the company expects capacity to be up 30 percent year on year to around 20 million seats, around 83 percent of fiscal 2019.

The company's booked load factors will be ahead of same point in fiscal 2019.

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