Easyjet Share Discussion Threads

[cashandcard] 18/4/2024 08:33

Good results guys. Get that seasonal loss down. I think it's also credit to management they've reallocated capacity away from Israel. Where they can probably fill demand gaps eslewhere.Cash

[18bells] 18/4/2024 08:32

Is that all? I sold last week and bought back plus more on Tuesday can't believe my luck

[havinthelasttoast] 18/4/2024 08:28

Ramps and de ramps like a mug thinking it makes any difference or anyone cares.

Shut up you daft penny punter

[datait] 18/4/2024 08:24

Happy to have made £2,630 after getting back in yesterday.

I'm being careful for now as Israel still to make their move so see a pull back going into the weekend.

[sapphireblue1] 18/4/2024 08:11

I have added +25% in this dip with an average below 520. Can't complain.

[sapphireblue1] 18/4/2024 08:10

easyJet reported a "positive outlook" for the remainder of its financial year, and said its "seasonal" losses eased in the first half. In the six months to March 31, revenue surged 22% to GBP3.27 billion from GBP2.69 billion. Its headline pretax loss slimmed to GBP350 million from GBP411 million. "Easter demand was particularly strong, benefitting March due to its "early timing. Operational performance was good with peak daily flights broadly in line with summer levels," it said. "Bookings for summer 2024 continue to build well, with an increase in volume and pricing compared to the same period last year, underpinned by strong demand for easyJet's primary airport network." Chief Executive Johan Lundgren said the firm is "well set up operationally" for the upcoming summer season"

[datait] 18/4/2024 08:07

Sold this morning happy to have made a nice profit.

[havinthelasttoast] 18/4/2024 07:59

Terminator ya daft mug. They make that loss every year as all airlines do in winter. Hahahahah

Its p/e last year was 5.5 and they improved by 9 percent this quarter year over year. Daft mug!

[iandippie] 18/4/2024 07:55

Why are you investing in shares? It really isn't for you. Premium Bonds perhaps?

[sapphireblue1] 18/4/2024 07:22

Terminator you are joking right.

They will make around £800m profit in Q4 well exceeding last year. The summer profit minus the winter loss equals the yearly profit. H1 could only make a profit if they slashed their fleet and magically grew it and human resources in time for summer.
Lets hope that the market isn't as stupid as your post.

[sapphireblue1] 18/4/2024 07:17

Many of my milestones hit in the update. Substantial reduction in the inevitable winter loss. easyJet holidays+206% in H1 is incredible . Holidays 70% sold for the summer. Flights forward sold 60% on what is a substantially larger network some of which has just become available.
easyJet are well placed for a massive summer season and substantial profit this year, especially the holiday business.
Israel capacity redeployed as expected.

The business is built for the summer and over winter it's impossible to carry the summer scale profitably. I hope one day they can reduce the seasonal loss to £250m. They are well on the way. Q4 should provide £750-850m profit. This will make for a more realistic dividend with H2 profit potentially around £1bn chalking up a £650m profit at 20% dividend.

[terminator101] 18/4/2024 07:14

Our losses have reduced a little. That's it. Still making a massive loss though. How exactly is this worth a market cap of nearly £4 billion.

[nick100] 18/4/2024 07:11

easyJet plc (EZJ)
Trading Update for the six months ended 31 March 2024

18-Apr-2024 / 07:00 GMT/BST

═══;══λ2;══_52;══ 552;═══════════;══λ2;══_52;══ 552;═══════════;══λ2;══_52;══ 552;═══════════;══λ2;══_52;══ 552;══

18 April 2024



easyJet plc

(‘easyJet’)



easyJet Trading Update for the six months ended 31 March 2024



easyJet reduces winter losses by >£50 million year-on-year as demand for
our flights and holidays continues to build well for summer



• Strong revenue performance in Q2

◦ Passengers1 +8% YoY
◦ RPS +8% YoY- ahead of mid-single digit guidance

▪ Load factor -1ppt YoY
▪ Ticket yield +9% YoY
▪ Ancillary yield +10% YoY

• Winter FY24 loss reduced by >£50 million YoY

◦ H1 RPS +5% YoY
◦ H1 CPS ex fuel flat YoY - in line with guidance
◦ easyJet holidays c. £31 million PBT, +206% YoY
◦ Headline loss before tax expected to be £340 - £360 million

• Capacity growth on track

◦ H2’24 c.59m seats on sale, c.8% increase YoY

▪ Q3 Capacity on sale c.28m, c.8% increase YoY
▪ Q4 Capacity on sale c.31m, c.7% increase YoY

• Positive outlook for FY24

◦ Q3 Airline RPS expected to be slightly up YoY, with the Easter
peak falling into March
◦ Q4 Airline RPS remains well ahead YoY with c. 30% of the program
sold
◦ Continue to expect H2 CPS ex fuel to be up low single digits YoY
◦ easyJet holidays continues to expect >35% customer growth YoY in
FY24



Summary

easyJet has reduced its first half “seasonal” losses, with headline loss
before tax expected to be between £340 and £360 million. This improvement
was driven by targeted capacity growth where demand was strongest,
alongside productivity and utilisation benefits which enabled ex-fuel unit
costs to remain flat year-on-year. The result was achieved despite
headwinds from fuel cost (per seat inflation of +6%) and the conflict in
the Middle East which resulted in a direct impact2 of c. £40 million in
H1’24. Flying into Israel has now been suspended for the summer with this
limited capacity (c.0.3% of planned summer flying) being redeployed across
the network. We continue to drive growth at easyJet holidays, with £31
million of profit before tax (+206% compared to H1’23) and 42% customer
growth year-on-year.



Easter demand was particularly strong, benefitting March due to its early
timing. Operational performance was good with peak daily flights broadly
in line with summer levels. On-Time Performance (OTP) over Easter improved
year-on-year as a result of easyJet’s targeted resilience actions.



Bookings for summer 2024 continue to build well, with an increase in
volume and pricing compared to the same period last year, underpinned by
strong demand for easyJet’s primary airport network. Q3’24 currently has
c. 60% of the program sold, +1ppt and Q4’24 is c. 30% sold, +2 ppts
year-on-year. easyJet holidays has currently sold 70% of the plan for this
summer.



Johan Lundgren, CEO of easyJet, said:

“The importance that consumers place on travel coupled with easyJet’s
trusted brand has driven good demand for our flights and holidays. Our
growth and focus on productivity have reduced winter losses by more than
£50 million.

“We have further enhanced our network with the launch of new bases in
Alicante and Birmingham providing greater choice for consumers across
Europe.

“We are well set up operationally for this summer season where we expect
easyJet to be one of the fastest growing major airlines in Europe and take
more customers on easyJet holidays than ever before.”

Fuel & FX Hedging



Jet Fuel H2'24 H1'25 USD H2'24 H1'25
Hedged position 69% 43% Hedged position 70% 46%
Average hedged rate $822 $825 Average hedged rate 1.25 1.25
($/MT) (USD/GBP)
Current spot ($/MT) at c. $865 Current spot (USD/GBP) at c. 1.25
17.04.23 17.04.23



Capacity



During Q2 easyJet flew 19.3 million seats, in line with guidance, a 9%
increase on the same period last year when easyJet flew 17.7 million
seats. Load factor was 87% (Q2 FY23: 88%).



Passenger1 numbers in the quarter increased to 16.8 million (Q2 FY23: 15.6
million).



March Q2 Q2
January 2024 February 2024
2024 FY24 FY23
Number of flights 27,756 36,630 42,828 107,214 99,273
Peak operating aircraft 275 278 297 297 267

Passengers1 (thousand) 4,216 5,767 6,861 16,844 15,631

Seats flown (thousand) 5,008 6,596 7,720 19,324 17,692

Load factor 3 84% 87% 89% 87% 88%



Revenue, Cost and Liquidity

Total group revenue and headline costs for the first half are expected to
be around £3,270 million and around £3,620 million respectively. Pricing
was very strong at the start of the period, with October seeing RPS of
+12% year-on-year. However, the onset of the conflict in the Middle East
on 7 October resulted in a pause in flights to Israel and Jordan and a
temporary slowdown in flight bookings for the wider industry. Demand and
bookings recovered strongly from late November with the second quarter
seeing RPS of +8% year-on-year, supported in part due to the start of
Easter holidays falling into March.



Our focus on increased productivity and utilisation offset inflationary
cost pressure, which all airlines and the wider supply chain continue to
see. This resulted in non-fuel unit costs being flat year-on-year, as
previously guided.

easyJet continues to have one of the strongest investment grade balance
sheets in European Aviation (Baa2, stable, by Moody's and BBB, positive,
by Standard & Poor's). As at 31 March 2024 our net cash position was
c.£146 million (31 December 2023 net debt: £485 million). easyJet repaid a
€500 million Eurobond which matured in October 2023 and then on 20 March
2024 easyJet issued an €850 million bond with a coupon of 3.750%, maturing
in 2031.



Financing costs benefitted from a decrease in gross debt and a rise in the
interest rate on floating-rate cash deposits. However, foreign exchange
movements over the period resulted in a non-operational, non-cash FX loss
of £6 million from balance sheet revaluations.





(£’m) Low High
H1 24 Group headline EBITDAR range 5 25
H1 24 Group headline EBIT range (350) (330)
H1 24 Group headline loss before tax range (360) (340)



Variance
H1 24 numbers are circa and rounded to the H1’24 H1’23
middle of the range provided above Favourable /
(Adverse)
Passenger revenue (£’m) 2,050 1,749 17%
Airline ancillary revenue (£’m) 910 767 19%
Holidays revenue4 (£’m) 310 173 79%
Group revenue (£’m) 3,270 2,689 22%
Fuel costs (£’m) (915) (773) (18%)
Airline headline EBITDAR costs ex fuel (£’m) (2,055) (1,824) (13%)
Holidays EBITDAR costs4 (£’m) (285) (161) (77%)
Group headline EBITDAR costs (£’m) (3,255) (2,758) (18%)
Group headline EBITDAR (£’m) 15 (69) 122%
Airline depreciation & amortisation (£’m) (352) (321) (10%)
Holidays depreciation & amortisation (£’m) (3) (2) (50%)
Group headline EBIT (£’m) (340) (392) 13%
Airline financing costs excluding balance (13) (46) 72%
sheet revaluations (£’m)
Holidays financing costs excluding balance 9 0 n/a
sheet revaluations (£’m)
Balance sheet revaluations (£’m) (6) 27 (122%)
Group headline LBT (£’m) (350) (411) 15%

Airline passenger revenue per seat (£) 48.34 46.24 5%
Airline ancillary revenue per seat (£) 21.53 20.22 6%
Total airline revenue per seat (£) 69.87 66.46 5%
Total airline RASK (p) 5.98 5.58 7%

Airline headline cost per seat ex fuel (£) 57.28 57.15 (0%)
Airline headline CASK ex fuel (p) 4.90 4.80 (2)%
Airline fuel cost per seat (£) 21.60 20.43 (6%)
Airline headline total cost per seat (£) 78.88 77.58 (2%)

Sector length (km) 1,168 1,192 (2%)

Cash and money market deposits (£’bn) 3.3 3.5 (6%)
Net cash/(debt) (£’m) 146 (156) 194%



For further details please contact easyJet plc:

Institutional investors and analysts:

Adrian Talbot Investor Relations [phone]



Media:

Anna Knowles Corporate Communications [phone]

Olivia Peters
Teneo [phone]

Harry Cameron
Teneo [phone]



A copy of this Trading Statement is available at
[1]



1) Represents the number of earned seats flown. Earned seats include seats
which are flown whether or not the passenger turns up, as easyJet is a no
refund airline and once a flight has departed, a no-show customer is
generally not entitled to change flights or seek a refund. Earned seats
also include seats provided for promotional purposes and to staff for
business travel.

2) Direct impact of £40 million relates to the lost contribution in H1’24
from pausing flying to Israel and Jordan alongside the demand softness
seen in Egypt following the onset of the conflict in the Middle East on 7
October 2023.

3) Represents the number of passengers as a proportion of the number of
seats available for passengers. No weighting of the load factor is carried
out to recognise the effect of varying flight (or "sector") lengths.

4) easyJet holidays numbers include elimination of intercompany airline
transactions.



This announcement may contain statements which constitute 'forward-looking
statements'. Although easyJet believes that the expectations reflected in
these forward-looking statements are reasonable, it can give no assurance
that these expectations will prove to have been correct. Because these
statements involve risks and uncertainties, actual results may differ
materially from those expressed or implied by these forward-looking
statements.

[datait] 17/4/2024 18:36

As noramping likes to point out I don't always get it wright 😂😆 it's a hobby to me in the past it was an expensive hobby but lately done ok. As long as I'm making who cares its only money at the end of the day. I can retire now if need be, not many have the choice I do.

[datait] 17/4/2024 18:34

Sapphire 100% I'm not into football martial arts is my thing but freindsa d my sons go on about the euros and how flights have blown up 😂😂 I do like a trade sold high back in now but I will take each day at a time.

[sapphireblue1] 17/4/2024 18:21

3 flights from Málaga where I mainly live to Male then 90 minutes by speedboat and I have internet faster than home.
Back to work this time next week in Malta then gas down for the summer season. This year will be massive for budget airlines.

[datait] 17/4/2024 16:45

Noramping technology is a wonderful thing you can trade anywhere in the world 😂😂 one day you might realise that, you have always been behind the tines havent you 😂😂

[datait] 17/4/2024 16:41

It's very hot here in Gran canaria, bought back I today 95k with oik on the decline and after recent retreat no brainer but ha ho you never know like a trade I do 😆 nice feeli g to feel holiday paid for by the pool 😂😂

[sapphireblue1] 17/4/2024 15:18

Not going so well Datait. I bought more at 514. My horizon is 12 months plus. No stress .
No pool for me, warm and cloudy evening here in the Maldives. 🤣🤣

[datait] 17/4/2024 14:26

🤑🤑 doing nicely by the pool making plenty this shoukd be 4% plus going into close then sell

[albert35911] 16/4/2024 18:15

Last post meant for jet2 thread.

[albert35911] 16/4/2024 18:15

Same for EasyJet,when it turns it will turn it is bound to,I would like to catch it at the correct time,i ner do though.

[datait] 16/4/2024 16:24

Best wait until Israel's next move as to how things go from here.

Next oil will rise significantly just like it had I October and we had over a week were easyJet went down

[paleje] 16/4/2024 15:55

It's a good move they can redeploy and reschedule assets, know exactly where they stand cost-wise and no risk of an orange liveried passenger jet getting blown out of the sky. Probably give their update on Thursday a better reception too.