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EasyJet narrows losses

Revenue at the budget airline has almost quadrupled after a disastrous two years
November 29, 2022
  • Passenger numbers yet to fully recover
  • Fuel costs still a major threat

easyJet (EZJ) has reported a “record bounce back” in demand after two years of Covid disruption. While the budget airline has yet to return to profitability, it has narrowed its pre-tax loss to just £208mn, compared with losses in excess of £1bn in 2020 and 2021. 

Revenue at the low-cost airline almost quadrupled in the year to 30 September 2022. Passenger sales jumped by 282 per cent to £3.82bn as more people travelled abroad, and ‘ancillary’ revenue –  the extra fees charged for luggage and seat reservations, plus other services – shot up by 326 per cent to £1.95bn. This compares with just £1.38bn in 2019. 

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