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(Alliance News) - easyJet PLC on Thursday said it expects to operate 90% of pre-pandemic capacity in the coming months, as it reported a narrowed interim loss.
For the six month that ended on March 31, revenue multiplied to GBP1.50 billion from just GBP240 million in the Covid-hit prior-year period. Its pretax loss narrowed to GBP557 million from GBP645 million.
Chief Executive Johan Lundgren said: "easyJet has reduced its losses year on year, at the better end of guidance. We have transformed the airline during the pandemic which has enabled us to emerge with renewed strength, underpinned by a product, network and service that customers really value.
"We are ready to capture the increased levels of demand right across our network. We are confident in our plans for summer which will see us reaching near 2019 flying levels and look forward to competing with our renewed strengths as a winner in the post pandemic recovery of European aviation."
easyJet posted a headline pretax loss of GBP545 million, slimming from GBP701 million. This was towards the bottom end of its previously guided range of GBP535 million to GBP565 million.
Looking ahead, easyJet expects to operate 90% of pre-pandemic capacity in the third quarter and said that fourth-quarter capacity on sale represents 97% of pre-virus levels.
It has reallocated over 1.5 million seats across the network, as leisure and domestic routes have now been fully recovered from Covid-19, while business and city route traffic remains below 2019.
"The airline industry has recently been experiencing operational pressures, which mainly impacted easyJet through early April...Despite this, bookings continue to be strong as we have seen demand, post the impact of the Omicron variant, returning with the removal of travel restrictions," easyJet said.
easyJet shares were down 3.2% at 485.03 pence each on Thursday morning in London. The stock is down 41% over the past 12 months.
By Xindi Wei; xindiwei@alliancenews.com
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