11/29/2022, 8:03 AM (Source: TeleTrader)
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EasyJet's Q4 revenue at £5.77B, surges 296% YoY

British low-cost carrier easyJet PLC reported its final quarter financial results for the fiscal year on Tuesday, revealing that its total revenue surged 296% year over year to £5.77 billion. The increase in revenue is attributed to the relaxation of pandemic-related travel restrictions relative to the prior year, the company noted.

The number of travelers in the three-month period skyrocketed by 242%, reaching 69.7 million passengers in comparison to the corresponding time frame the year before. The percentage of capacity flown jumped 189%, landing at 81.5 million. Total group headline loss shrank to £178 million from the loss of £1.1 billion a year earlier.

"easyJet has achieved a record bounce back this summer with a performance which underlines that our transformation is delivering," CEO Johan Lundgren said. "Over the next year, we are targeting customer growth and are well-placed to drive returns and margins while maintaining a rigorous focus on cost," he added.

Baha Breaking News (BBN) / AB