EasyJet cuts end of year losses despite £40m hit from Hamas-Israel conflict

EasyJet said it reduced its losses in the final three months of 2023 despite suffering a £40 million hit from the Hamas-Israel conflict.

The airline recorded a loss before tax of £126 million between October and December last year, down from £133 million during the same period in 2022.

Passenger numbers increased by 14% year-on-year.

The airline said it suffered a “direct impact of £40 million” in the quarter due to the war between Israel and Hamas.

This relates to the pause in flying to Israel and Jordan, alongside a softening of demand for trips to Egypt.

EasyJet chief executive Johan Lundgren said: “We delivered an improved performance in the quarter which is testament to the strength of demand for our brand and network.

“The popularity of easyJet holidays also continues to grow, with 48% more customers in the period.

“We see positive booking momentum for summer 2024 with travel remaining a priority for consumers.

“Flight and holidays bookings took off strongly during the traditional busy turn of year sales period, as customers opted to secure their summer holidays to firm favourites like Spain and Portugal alongside destinations further afield like Greece and Turkey.

“EasyJet remains focused on delivering for our customers in the coming months, while also expecting to deliver continuing performance gains.”

Published: 24/01/2024 by Radio NewsHub