Dow Jones Newswires: EasyJet losses narrow, revenue grows, sees stronger passenger growth for early 2023

by | Nov 29, 2022 | Stock Market

EasyJet PLC said Tuesday that its fiscal 2022 pretax loss narrowed and revenue rose as passenger numbers and revenue per seat recovered following the easing of Covid-19-related restrictions. The U.K. budget airline
said that for the year ended Sept. 30, its pretax loss was 208 million pounds ($248.8 million) compared with a loss of GBP1.04 billion for fiscal 2021, and consensus of a loss of GBP183.0 million based on the forecasts of seven analysts taken from FactSet.

The company incurred GBP30 million in non-headline costs during the year, compared with GBP100 million in non-headline gains the year prior. Adjusted pretax loss–a key measure for the airline, which strips out exceptional and other one-off items–was GBP178 million compared with a loss of GBP1.14 billion the year prior and consensus of a GBP187.0 million loss, taken from FactSet and based on 14 analysts’ estimates. Revenue was GBP5.77 billion compared with GBP3.01 billion in 2020 and a consensus of GBP5.73 billion, taken from FactSet and based on 16 analysts’ estimates. Total revenue per seat increased to GBP66.23 from GBP50.54 a year before. Total passengers rose …

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