1/27, 8:49 AM (Source: TeleTrader)
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easyJet's Q1 revenue surges by 582% to £805M

EasyJet PLC announced on Thursday that its total revenue in the first quarter of the fiscal year 2022 rocketed by a staggering 582% in comparison to the same period the year before to come in at £805 million. Its revenue from passengers went up by 363% on an annual level to stand at £547 million.

The number of travelers increased by 310% in contrast with the same trimester in 2021 to reach 11.9 million. Meanwhile, the percentage of capacity flown rose by 255% to 64% of the one operated in 2019, before the start of the COVID-19 pandemic.

"easyJet produced a significant year on year improvement in the first quarter, despite the short-term impact of Omicron in December," the company's Chief Executive Officer (CEO) Johan Lundgren commented on the results. "We see a strong summer ahead, with pent up demand that will see easyJet returning to near 2019 levels of capacity with UK beach and leisure routes performing particularly well."

Baha Breaking the News (BBN) / JR