EasyJet on Thursday (29 January) reported a pre-tax loss of £93 million for the three months to 31 December, despite a 7 per cent year-on-year increase in passenger numbers. Revenue per available seat kilometre (ASK) remained flat year-on-year, while load factor for the quarter improved by 2 percentage points to 90 per cent.
Despite the loss, the UK-based budget carrier said its full-year 2026 outlook remains unchanged after “our largest ever January booking period”. EasyJet reported seeing “record levels” in both volume and revenue linked to January bookings.
The carrier has already sold 63 per cent of its seats for the next quarter, with revenue per ASK expected to increase year-on-year in the low single digits.
Kenton Jarvis, easyJet’s CEO, said: “Bookings are building well for the summer season… We remain committed to delivering sustainable value and continue to progress towards our medium-term target of generating over £1 billion in profit before tax.”
Capacity for the year is expected to increase by about 7 per cent, while the carrier’s holidays business is expected grow by as much as 15 per cent.
EasyJet attributed its headline loss (which is £32 million higher than the same period in 2024) to expansion costs from new routes to Milan Linate and Rome Fiumicino, and ongoing competition in some markets.
Rival low-cost carrier Wizz Air reported negative earnings on Thursday for the same three-month period. The airline’s operating loss increased to €123.9 million for the quarter, compared with €75.9 million in the previous year, due to anticipated higher aircraft maintenance costs.
During its earnings call the Hungary-based airline also announced that EVP and chief financial officer Ian Malin will take on the position of chief commercial officer from February.
Wizz Air recently submitted an application to the US Department of Transport seeking permission to launch transatlantic flights between the UK and the US. On Thursday, Malin reportedly clarified that these will be charter services arranged specifically for the upcoming FIFA World Cup football tournament.
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