EasyJet will benefit from the cost-of-living crisis as cash-strapped Britons look for budget holiday options, according to the airline's chief executive. Johan Lundgren was speaking after easyJet posted narrowed annual losses following a record summer performance.
The group reported underlying pre-tax losses of £178 million for the 12 months to September 30 against losses of £1.1 billion the previous year. EasyJet claimed its best earnings for a single quarter over the summer, at £674 million on an underlying basis.
That came as the end of pandemic travel restrictions put overseas holidays back on the agenda for many people. Since then, soaring inflation has put pressure on household finances.
