Low-cost airline easyJet said it expected to report annual pre-tax losses of £170m -£190 million, reflecting the summer chaos at UK and European airports where staff shortages led to cancellations amid surging post-pandemic demand.
The company said it flew 88% of pre-Covid capacity in the fourth quarter, adding that it expected to fly around 20 million seats in the first quarter of 2023, a rise of a third year on year with UK capacity during the peak travel periods, such as October half term and Christmas week, back to pre-pandemic levels.
It added that it would not pay an annual dividend.
“Our summer 23 season went on sale last week and we were filling the equivalent of more than four A320 aircraft a minute in the opening hours demonstrating the continued demand,” said chief executive Johan Lundgren.
“easyJet is Europe’s largest operator at primary airports with one of the strongest balance sheets in the aviation industry. We face the uncertain macro-economic environment with many strengths through our brand, network and business model which enable us to provide low fares to millions despite the rising cost of living.”
