easyJet cuts losses and takes off on the stock market

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The latest figures from easyJet give confidence to the stock market. The British low-cost carrier pared its losses in the third quarter of 2022, which fell to £133m (pre-tax) – a dramatic reduction from £213m in the same period last year. Year-on-year revenue also took off, gaining 83% to £1.474 billion.

The strong growth in the number of passengers and the increase in revenue per ticket sold have made a decisive contribution to improving the company’s financial data.

Looking ahead, the carrier still expects a loss for the first half of 2023, but is revising the budget outlook upwards, with a closing profit of 126 million pounds before tax. The data also pushed the stock on the London Stock Exchange up 9.5%.

Catherine Mills Avatar