easyJet’s first-quarter revenue rose 11% to £2.3bn. Growth in its Airlines business was driven by increased capacity and fuller planes. The Holiday business saw revenue climb 26% higher, helped by double-digit customer growth.
Underlying pre-tax losses widened from £61mn to £93mn, reflecting increased investment to set up new strategic bases in Milan and Rome.
Net debt improved from £0.5bn to £0.1bn.
Bookings for the second quarter are up two percentage points, and second half bookings are up one percentage point on the prior year.
The full-year outlook remains unchanged, with capacity set to expand by around 7%. Holiday customers are expected to grow by up to 15%.
The shares rose 2.4% in early trading.
Our view
HL view to follow.
easyJet key facts
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