Easyjet eyes record profits as travellers shrug off economic woes to book summer holidays
Proper news from Britain - News from Britain you won’t find anywhere else. Not the tosh the big media force-feed you every day!
Easyjet is on track to report record profits this year as travellers shrug off economic woes to book summer holidays.
The budget airline said peak season sales were on target and would help earnings soar past £700million.
In a further sign of confidence, the low-cost carrier said it will create 130 jobs next year by reopening a hub at Newcastle Airport in response to growing demand.
Chief executive Kenton Jarvis said: ‘We continue to see strong demand for Easyjet’s flights and holidays as we attract more customers through our great fair fares, friendly service and an unrivalled network of destinations.’
The third and fourth quarters are already 80 per cent and 42 per cent sold respectively, Easyjet said.
Holidaymakers are opting for farther-flung destinations this year such as Egypt, Tunisia, Turkey, Morocco and Cape Verde.
But the classic summer break locations of Spain, Portugal and Greece also remain popular.
Summer bookings were ‘supportive’ of the airline’s goal to make £703million profit in the 12 months to the end of September.
That would beat the previous record of £686million, which was set in 2015.
And its package holiday arm, which launched in 2019, is on track to meet its £250million profit target earlier than expected.
The company posted a loss of £394million for the six months to the end of March – in line with analyst expectations for the winter period.
DIY INVESTING PLATFORMS
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investing account for you
