The orange airline is picking up steam. Easyjet has just reported a net loss of £133 million (nearly €150.7 million) for the first quarter of its 2022-2023 fiscal year (ended Dec. 31), compared with a loss of £213 million (€241.3 million) in the same period of 2021-2022. 

Strong increase in passenger traffic

Passenger traffic is up 47% from the same period last year. Revenue per seat is up 36% year-on-year, with load factor up ten points. Ancillary revenues showed yields up 20% year-on-year and 85% year-on-year in the first quarter of fiscal 2019.

For the first half as a whole, the loss before taxes is expected to be significantly improved compared to the first half of fiscal 2022. In the second half of the year, ticket yields continue the trend of the first half of the year, although load factors remain lower than in fiscal 2019 due to late bookings. 

Easyjet is expected to exceed full-year earnings guidance

Easyjet's management "remains aware of the uncertainty related to the international macroeconomic environment, however, based on the high levels of demand and the current booking trend, it anticipates exceeding current market forecasts in terms of earnings for the full year 2023."