The Lemon Fool

idpickering wrote:Ian (No holding).

Summary

EasyJet has reduced its first half “seasonal” losses, with headline loss before tax expected to be between £340 and £360 million. This improvement was driven by targeted capacity growth where demand was strongest, alongside productivity and utilisation benefits which enabled ex-fuel unit costs to remain flat year-on-year. The result was achieved despite headwinds from fuel cost (per seat inflation of +6%) and the conflict in the Middle East which resulted in a direct impact2 of c. £40 million in H1’24. Flying into Israel has now been suspended for the summer with this limited capacity (c.0.3% of planned summer flying) being redeployed across the network. We continue to drive growth at easyJet holidays, with £31 million of profit before tax (+206% compared to H1’23) and 42% customer growth year-on-year.