Dow Jones Newswires: EasyJet losses narrow, revenue grows, sees stronger passenger growth for early 2023


EasyJet PLC said Tuesday that its fiscal 2022 pretax loss narrowed and revenue rose as passenger numbers and revenue per seat recovered following the easing of Covid-19-related restrictions.

The U.K. budget airline

said that for the year ended Sept. 30, its pretax loss was 208 million pounds ($248.8 million) compared with a loss of GBP1.04 billion for fiscal 2021, and consensus of a loss of GBP183.0 million based on the forecasts of seven analysts taken from FactSet.

The company incurred GBP30 million in non-headline costs during the year, compared with GBP100 million in non-headline gains the year prior.

Adjusted pretax loss–a key measure for the airline, which strips out exceptional and other one-off items–was GBP178 million compared with a loss of GBP1.14 billion the year prior and consensus of a GBP187.0 million loss, taken from FactSet and based on 14 analysts’ estimates.

Revenue was GBP5.77 billion compared with GBP3.01 billion in 2020 and a consensus of GBP5.73 billion, taken from FactSet and based on 16 analysts’ estimates.

Total revenue per seat increased to GBP66.23 from GBP50.54 a year before.

Total passengers rose to 69.7 million, from 20.4 million in 2021, while the airline said load factor rose 13 percentage points to 85.5% from 72.5% the year before.

For the first quarter of fiscal 2023, easyJet said it expects revenue per seat growth to be up more than 20% on year with load factor growth of 10 percentage points.

Write to Joe Hoppe at

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