Easyjet plans new planes after record profit over summer
EasyJet is proposing to order new aircraft and resume dividend payments to shareholders after making a record profit this summer.
The airline said it expects its profit before tax between July and September to be between £650 million and £670 million.
This was driven by an 8% increase in passenger numbers and a 9% rise in fares, both compared with the same period last year.
EasyJet said its profit before tax for the year to the end of September is expected to be between £440 million and £460 million.
EasyJet chief executive Johan Lundgren said: “We have delivered a record summer with strong demand for easyJet’s flights and holidays with customers choosing us for our network, value and service.
“This performance has demonstrated that our strategy is achieving results and so today we have set out an ambitious roadmap to serve more customers and deliver attractive shareholder returns, underpinned by a continued focus on costs and operational excellence.
“Our new medium-term targets provide the building blocks to deliver a PBT (profit before tax) greater than £1 billion.
“This will be driven by reducing winter losses, upgauging our fleet and growing easyJet Holidays.
“As part of our commitment to shareholder returns, the board intends to reinstate dividends commencing with the FY23 results.
“We have also reached a proposed agreement with Airbus for an additional 157 aircraft order and a further 100 purchase rights.
“This will enable easyJet’s fleet modernisation and growth to continue beyond 2028 while providing substantial benefits including cost efficiencies and sustainability improvements.”
