easyJet PLC (LSE:EZJ) reported a smaller half-year loss than forecast as revenue began to flow with pandemic rules being loosened, with it now expecting to fly 90% of its 2019 capacity in the third quarter and 97% in the fourth.
A pre-tax loss of £545mln was reported for six months ending March 31, compared to £701mln in the prior period and at the better end of analyst expectations.
The budget airline generated revenue of £1.49bn for the first half, compared to £240mln in the prior period.
Strong demand is currently being seen for flights, the FTSE 250 group said, with bookings consistently higher than pre-pandemic levels in the last 10 weeks, with load capacity rising to 77% from 64%.
To optimise its network, the carrier said it has reallocated more than 1.5mln seats to its strongest markets.
Since Easter the airline has been flying up to a quarter of a million customers and 1,600 flights every day, said chief executive Johan Lundgren, though it has often been making headlines for cancelling hundreds of flights.
"The pent-up demand and removal of travel restrictions provided for a strong and sustained recovery in trading," said Lundgren.
Its easyJet holidays business is now on track to carry over 1.1mln passengers in the current fiscal year, with over 70% of the programme sold.