Tui: Shares down as travel giant eyes return to profit with strong summer getaway bookings Summer holidays TUI reported its revenues overtook pre-pandemic levels in its half year results this morning, as it cashed in on increased bookings and a boom in summer travel demand. The travel company reported revenues of £2.78bn (€3.2bn), a £870m (€1.bn) improvement on the previous year, with bookings hitting 12.9m across the winter and summer seasons. Losses [...]
Jet2 having a ‘Goldilocks’ moment as travel group hikes its profit expectations Summer to travel Leisure travel company Jet2 has raised its profit expectations to between £387m and £392m this morning, for the year ending 31 March 2023. The company has reported sale seat capacity for Summer 2023 as 7.2 per cent higher than the previous year, at 15.26 million. Forward bookings remain encouraging, with package holiday customers representing just [...]
EasyJet profits expected to fly past £260m as demand and ticket prices soar Easyjet flying high Easyjet announced a £120m improvement in its first half performance year on year, as the low-cost airline continued to turnaround its business. Headline losses before tax for the first half are expected to be between £405m and £425m, in spite of economic challenges including inflation, rising fuel costs and preparation costs for summer. The airline [...]
Three things we learnt from Easyjet and Wizz Air’s results January 29, 2023 The European aviation industry took centre stage last week, with low-cost carriers Easyjet and Wizz Air posting their financial results for the final three months of last year. Both were encouraging, with each firm reporting revenue rises driven by Brits returning to the skies after pandemic travel restrictions. Easyjet’s income jumped to £1.5bn after traveller [...]
FTSE 100 close: Barclays, HSBC and Easyjet shine on otherwise poor day in London January 25, 2023 London’s FTSE 100 today gave up morning gains to finish lower before stronger-than-expected retail earnings provided a balm against recession fears. The capital’s premier index fell 0.22 per cent to 7,740.34 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 0.38 per cent to [...]
Easyjet slims losses to £133m as it dreams of profitability with Easter and summer bookings already flying high January 25, 2023 Easyjet expects to deliver a full-year profit after shrinking its quarterly losses by 37 per cent, the company said today, as chief executive Johan Lundgren remained positive about the airline’s preparedness to deal with higher passenger levels this summer. The low-cost carrier announced today that its loss before tax in the three months ended 31 [...]
Easyjet’s boss receives £3m package as airline remains in the red December 13, 2022 Easyjet’s boss Johan Lundgren has received a £3m remuneration even though the airline has posted a loss for the third consecutive year. The chief executive received a £1.2m bonus in addition to his £833,000 annual salary as well as shares worth £925,000. A company spokesperson said Lundgren – who has been at the carrier’s helm [...]
easyJet avoids French Christmas strike with eleventh-hour pay increase December 7, 2022 easyJet has prevented a strike in France over Christmas after offering a pay increase to cabin crew staff at the eleventh hour. The low-cost carrier has put on the table a 7.5 per cent salary increase in addition to a €3,000 bonus (£2,600), which was accepted by the French union SNPNC. “easyJet is pleased to [...]
EasyJet boss Johan Lundgren: Brits will continue to travel amid cost-of-living crisis November 29, 2022 Brits will continue to travel amidst the current cost-of-living crisis, according to Easyjet’s boss Johan Lundgren. The chief executive said that, despite limited visibility, the carrier is already seeing a strong demand for next year. “We have relatively low visibility overall, but we do see in general there is a strong demand and quite [a [...]
Historical moment: Rolls-Royce and Easyjet announce world’s first hydrogen engine run November 28, 2022 Rolls-Royce and Easyjet have made aviation history as they announced today the first successful run of a hydrogen-powered plane engine. The test was conducted using a hydrogen demonstrator powered by wind and tidal energy generated in the Orkney Islands. Rolls-Royce’s chief technology officer Grazia Vittadini said it was a “landmark achievement.” “We are pushing the [...]