EasyJet To Deliver Record Q4 Headline Pretax Profit, Achieves FY23 Financial Targets

(RTTNews) - easyJet Plc (ESYJY.PK, EZJ.L) said it expects fourth quarter headline profit before tax to be between 650 million pounds - 670 million pounds. Total group revenue is projected to be around 3.12 billion pounds with passenger revenue of 1.97 billion pounds. During fourth quarter, easyJet flew 28.6 million seats, a 9% increase on the same period last year. Load factor was 92%, flat with prior year. Passenger numbers in the quarter increased to 26.2 million from 24.3 million.

easyJet expects fiscal 2023 Group headline profit before tax to be between 440 million pounds and 460 million pounds with easyJet holidays contributing around 120 million pounds.

easyJet expects first quarter capacity to grow by approximately 15%. The company has launched new, and ambitious, medium-term targets, providing the building blocks to achieve a Group pretax profit per seat of between 7 to 10 pounds.

easyJet has also reached a proposed agreement with Airbus for an additional 157 aircraft order and a further 100 purchase rights.

The board plans to pay a dividend of 10% of fiscal 2023's headline profit after tax, payable in early 2024. The expectation is that this will rise to 20% of headline profits after tax in fiscal 2024, payable in early 2025.

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