easyJet PLC will update on its post-Covid recovery on Tuesday when it posts its second-quarter results.
Murmurings from chief executive Johan Lundgren that full-year pre-tax income will exceed the consensus £126mln have already lifted spirits ahead of the results, which will provide an insight into easyJet’s journey out of loss-making territory.
“Expectations are flying high,” Hargreaves Lansdown analyst Susannah Streeter commented, suggesting easyJet’s pre-tax losses should be “significantly” better than the £557mln penned in the first half of 2022.
“Any uncertainty clouding the trading statement would sorely disappoint,” she added, with its position as a short-haul low-cost carrier boding well during the heightened cost-of-living.
easyJet reported passenger volume growth of 47% year-on-year in the first quarter, alongside a 36% increase in revenue per seat.
“Robust demand, good cost control, new route additions and gathering customer interest in easyJet holidays are all helping the airline emerge from the doldrums caused by the pandemic,” AJ Bell investment director Russ Mould said.
However, with its shares having lost over a third of their value in the past decade, “easyJet clearly must do more than simply ride the recovery higher,” he added.