EasyJet cuts loss despite hit from Middle East war
Budget airline EasyJet said it cut its losses in the final three months of 2023 despite suffering a £40 million hit from the Hamas-Israel conflict.
It said the outbreak of hostilities forced it to suspend flying to Israel and Jordan, alongside a softening of demand for trips to Egypt.
The loss before tax came in at £126 million between October and December, down from £133m in the corresponding period in 2022.
Passenger numbers rose by 14% year-on-year as travellers continued to prioritise holidays in defiance of the cost of living crisis.
Chief executive Johan Lundgren said there was positive booking momentum for summer 2024.
“We delivered an improved performance in the quarter which is testament to the strength of demand for our brand and network,” he said.
“The popularity of easyJet holidays also continues to grow, with 48% more customers in the period.”