Air traffic Easyjet earns significantly more
The British low-cost airline Easyjet grew as expected in the last financial year 2023/24 (as at the end of September) and significantly increased its profit. Easyjet also grew significantly in Switzerland.
27.11.2024, 09:00
27.11.2024, 14:14
SDA
Group revenue for the twelve months to the end of September rose by 14 percent year-on-year to a good 9.3 billion British pounds (10.4 billion Swiss francs). In Switzerland, growth was somewhat weaker, but still in double figures. Easyjet Switzerland increased its turnover by 10.9 percent to 877 million pounds (977 million Swiss francs).
At 610 million pounds, the airline's pre-tax profit was a good third higher than in the same period last year. Easyjet thus developed as expected by analysts. At the bottom line, net profit shot up by 40 percent to 452 million pounds.
Shareholders should now receive a dividend of 12.1 pence per share. This is a significant increase on the previous year, when the dividend was only 4.5 pence. Easyjet thus intends to pay out a fifth of its net profit.
However, the company has mixed feelings about the new year. The typical seasonal loss in winter is likely to be lower due to the strong booking situation. However, the Executive Board under future Group CEO Kenton Jarvis expects headwinds in the second financial quarter (until the end of March), as the Easter holidays in 2025 fall in April.
The current CFO Jarvis will succeed Johan Lundgren, who is now stepping down, at the beginning of the year, while Jan De Raeymaeker will then head up the finance department from January 20.
