EasyJet says bookings for next spring, summer look positive

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LONDON (Reuters) - British airline easyJet said bookings for next spring and summer were looking positive and it was already achieving higher ticket prices although it warned that there would be market wide inflationary pressure.

Reporting results for the 12 months to the end of September, easyJet said that its headline pretax loss came in at 178 million pounds ($213 million), broadly in line with a consensus forecast for a 182 million pound loss.

The loss, reflecting the impact of the pandemic in late 2021 and early 2022 and disruption and cancellation costs last spring, masked a very profitable summer quarter when earnings (EBITDAR) soared to 674 million pounds as holiday demand surged.

For the six months from April 2023, the period when the airline tends to make the bulk of its profit, easyJet said early bookings looked positive with Easter ticket yields higher than in 2022. It said it was planning to fly 9% more seats for the spring, summer period.

During the pandemic, most airlines scrapped their dividends as they battled to survive without flying and easyJet said the loss meant it would not be recommending a payout in the last financial year.

It said in its statement on Tuesday that it will reassess the potential for shareholder returns when the financial performance of the group allows.

($1 = 0.8341 pounds)

(Reporting by Sarah Young, Editing by Paul Sandle and Kate Holton)


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