EasyJet Plc FY22 Headline Pretax Loss Narrows

easyJet plc (ESYJY.PK,EZJ.L) recorded a significant reduction in headline loss before tax for the year ended 30 September 2022 from prior year, driven by increased capacity and yields as customer confidence to travel returned once Covid-19 related restrictions were lifted across Europe, along with enhanced contribution from ancillary product offering and easyJet holidays. The company flew 69.7 million passengers in the year, up 242% on the prior year.

Load factor for the year was 85.5% compared to 72.5%, prior year. Capacity for the year was 78% of the level of the pre-pandemic year, fiscal 19, and the load factor of 85.5% was 6 ppt lower.

Headline loss before tax was 178 million pounds compared to a loss of 1.14 billion pounds, prior year. Headline loss per share was 19.6 pence compared to a loss of 166.9 pence.

Reported loss before tax was 208 million pounds compared to a loss of 1.04 billion pounds, last year. Loss per share was 22.4 pence compared to a loss of 159.0 pence.

Total revenue increased by 296% to 5.77 billion pounds. Passenger revenue increased by 282% to 3.82 billion pounds.

Given a reported loss, the Board will not be recommending payment of a dividend in respect of the year.

Looking forward, the Group projects first quarter load factor growth of approximately 10 ppts year-over-year. Fourth quarter capacity is estimated around pre-pandemic levels.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT