EasyJet holidays to upgrade growth plans as demand increases
Will PayneEasyJet holidays will upgrade its ambitious growth plans this year after recent financial results showed the operator is more than 60% sold for this summer – more than double its previous year-on-year target.
Unconstrained by the pandemic and weighing up current levels of demand, easyJet holidays now expects to see growth of around 50% this financial year compared with the same period in 2021.
EasyJet holidays – which delivered £13 million profit in the three months to 31 December 2022, as well as several record revenue booking days in January – also saw a 161% increase year-on-year in customers.
The brand predicts customer growth to continue throughout the quarter, and plans to continue ramping up investment in marketing and advertising as part of its turn-of-year sale campaign.
In a recent trading update, strong bookings saw easyJet improve its first quarter performance by £80 million year-on-year. Passenger growth increase by 47% compared with the same period in 2021, with booking momentum expected to continue in 2023.
Moving into the second quarter of this financial year, easyJet expects growth to continue driven by strong yields and load factors, alongside significant ancillary revenue.
Johan Lundgren, chief executive of easyJet, said: "We have seen strong and sustained demand for travel over the first quarter, carrying almost 50% more customers compared with last year.
"Many returned to make bookings during the traditional turn-of-year sale, where we filled five aircraft every minute in the peak hours, which culminated in three record-breaking weekends for sales revenue this month.
"EasyJet holidays, the fastest-growing holidays company in the UK, is upgrading its ambitious growth plans for the year given the strong demand."
Lundgren expects the company’s winter loss to reduce "significantly" over the first half compared with last year, setting the airline and operator on the path to delivering a full-year profit, he predicted.
During Q1, EasyJet flew 20.2 million seats – an increase on the same period last year when it flew 15.5 million. Load factor was 87% due to increased customer demand, it said, coupled with Covid restriction-free travel.
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Place of registration: England and Wales.
Company number 08723341.
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