EasyJet Projects Beating Current Market Expectations For 2023

LONDON (Reuters) – EasyJet (EZJ.L) on Wednesday said it expected to beat current market expectations for 2023 based on the strength of bookings into summer and was set to deliver a full-year profit.

The British airline reported a headline loss before tax of 133 million pounds ($163.9 million) for the quarter to end-December, and said it expected its loss before tax for the first half to be significantly better than in the first half of 2022.

EasyJet Holidays also upgraded expectations from 30% customer growth to around 50% year-on-year.

“This strong booking performance, aided by the airline’s step changed revenue capability, has driven an 80 million pound year-on-year boost in the first quarter with continued momentum as customers prioritise spending on holidays for the year ahead,” Chief Executive Johan Lundgren said in a statement.

Many are hopeful that, even with a recession in Britain, travellers won’t sacrifice their holidays, fueling cautious optimism in the aviation sector for an ongoing recovery towards 2019 traffic levels.

($1 = 0.8115 pounds)

(Reporting by Joanna Plucinska, Editing by Paul Sandle)