Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
Easyjet’s profits fell 27.9 per cent last year following months of “significant challenges”.
Pre-tax profits dropped from £686 million to £495 million, despite passenger numbers jumping 6.6 per cent with record load factor at 91.6 per cent.
Easyjet issued a profit warning in October.
The no-frills carrier said severe disruption from strikes, weather and airport issues as well as increased market capacity and aggressive pricing have all contributed to the fall in profits.
Easyjet chief executive Carolyn McCall praised the “resilient performance” of the airline in the face of “significant challenges”.
"Over the last year we have carried a record 73 million passengers who have enjoyed a third successive year of falling fares,” said McCall. “This great value combined with our friendly service on Europe's leading network means that passenger loyalty continues to grow with 54 million of them flying with us again in 2016 - 21 million more than five years ago.
“Looking ahead, the Easyjet model remains strong as does the demand environment and we continue to see opportunities in the medium term to grow revenue, profit and shareholder returns.
“In a tougher operating environment strong airlines like Easyjet will get stronger and we will build on our already well-established network,” said McCall.
Easyjet also confirmed it had set up a continental-based airline ahead of the UK's exit from the EU.