EasyJet set for a hot summer

AIRLINE UPBEAT AFTER £80M WAR HIT

EASYJET managed to narrow its winter losses despite suffering an £80million hit because of the Middle East conflict.

And the budget airline is set to bounce back in what analysts predict could be its best summer yet.

The carrier stopped flights to Israel and Jordan last October through to late last month, leading to refunds and other extra costs.

And despite a brief resumption, it has suspended its service to Tel Aviv for the summer amid growing tensions in the region.

The £80million impact included £40million directly on routes in the troubled region and another £40million as the war caused passengers flying elsewhere in the world to think twice. But offsetting that was an early Easter and an overall trade increase. EasyJet now expects to report half-year losses of between £340million-£360million, down £50million on the same time in 2023 and smashing forecasts. Airlines often make a loss over the quieter winter months but analysts are predicting a hot summer for easyJet with a best full year profit of around £620million.

Boss Johan Lundgren said the suspension of summer flights to Israel would have little impact as it was more of a winter destination and planes on the route could be sent elsewhere. He also added that the conflict was not stopping holidaymakers visiting Egypt.

Half-year profits for easyJet’s holidays arm are expected to have soared 200 per cent to £31million. Lundgren said it was “well set for summer”, with flights up eight per cent. EasyJet’s shares rose yesterday but are below pre-pandemic levels.