The wind is at the back of the British low-cost airline. This Wednesday, Easyjet announced a net profit of 452 million pounds for its 2023/2024 financial year, up almost 40% compared to last year. Which allows him to look forward to the next 12 months with optimism.
The exercise, completed on September 30, “ was characterized by an increase in capacity and passenger numbers, cost discipline and operational efficiency, which offset sector inflationary pressures », Explains Easy jet, in a press release.
The “Easyjet Holidays” stay offer delivers results
The low-cost group’s results were also driven by the Easyjet Holidays stay offer, which saw its customer base increase by 36% year on year. Its pre-tax profits increased by 56%. “ We plan to increase the number of customers leaving by 25% » with Easyjet Holidays over the coming financial year, underlined Kenton Jarvis, current financial director, in the press release. He will soon take charge of the group. “ Easyjet’s outlook is positive “, he added.
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Result: the company’s turnover increased by 14%, to 9.3 billion pounds. Over the first half, the company also managed to reduce its losses by 40 million pounds, in particular thanks to productivity gains. It mainly benefits from record results over the summer period, driven by a greater number of passengers.
For the record, over the entire 2022/2023 financial year, EasyJet returned to profit, after three years of losses suffered in the wake of the pandemic, which hit the airline sector very hard. With traffic annihilated for months then weighed down by strong health constraints.
Ryanair in the fog
These results contrast with those of its Irish competitor, Ryanair, which published a net profit of 1.4 billion euros, down 6%, over its staggered financial year. This is weighed down by tickets cheaper than expected. Ticket prices, which had fallen by 15% in the first quarter, already affecting results, fell by 7% in the second (from July to the end of September). Passenger traffic increased by 9%.
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Claiming to have “ virtually no visibility over the fourth quarter », the CEO of Ryanair, Michael O’Leary, noted in a press release that this quarter will not include the Easter period, like last year, which will make the comparison ” difficile ». The « final result » of the current financial year « will depend on the absence of adverse developments » over the remaining two quarters, for example the risk linked to conflicts in Ukraine and the Middle East or further delivery delays from Boeing.
The airline sector is up against a tax increase
In mid-October, the French aviation sector asked the French government for a “ real consultation » on the project to increase the taxation of its activities, judged “ totally disproportionate and counterproductive “. The reason: Bercy confirmed the target of additional taxation of one billion euros for air travel in France, during the presentation of the 2025 finance bill (PLF). Thanks to it, theThe government hopes to generate one billion euros in additional revenue.
Interviewed by Franceinfo radio on Monday, Pascal de Izaguirre, president of the National Federation of Aviation and its Trades (FNAM), lamented: “The government has not carried out impact studies. We have carried out an impact study by an independent organization. It is estimated that the increase in this tax threatens 11,500 jobs in the airline sector. » And the one who is also CEO of the airline Corsair added: “In addition, this tax is added to others which mean that today French air transport is the most taxed in Europe. »
(With AFP)
