easyJet PLC said it expects to beat City expectations for full-year profit, reflecting the current high levels of bookings and strong demand heading into the summer.
“Whilst we remain mindful of the uncertain macroeconomic outlook across the globe, based on current high levels of demand and strong bookings, easyJet anticipates exceeding current market profit expectations of £260mln for FY23,” the company said in a statement.
The budget airline said its performance for the six months to 31 March 2023 had improved by more than £120mln with continued growth in the second quarter although a headline loss before tax of between £405mln and £425mln for the first half is still expected.
Passenger numbers rose 35% annually in the period while revenue per seat (RPS) jumped 43%, load factor improved 10 percentage points and ticket yield jumped 31%.
easyJet described trading at Easter as “robust”, with around 1,600 flights per day.
Strong bookings have continued into summer 2023 with third-quarter airline RPS expected to be around 20% higher year-on-year.
easyJet holidays also saw impressive growth with expectations upgraded for a rise of around 60% year-on-year.
In the second half, the airline expects capacity to rise around 9% to 56mln seats with fourth-quarer capacity seen back to around pre-pandemic levels.
Johan Lundgren, CEO, said: “We see continued strong booking momentum into summer as customers prioritise spending on travel and choose airlines like easyJet offering the best value and destination mix, as well as easyJet holidays which is continuing its steep growth trajectory as the fastest growing holidays company in the UK.”