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EasyJet sees annual loss of up to £190m

EasyJet said that cancelled flights in spring offset a strong summer season
EasyJet said that cancelled flights in spring offset a strong summer season

British airline EasyJet said bookings for the coming months were progressing well, as travel demand holds up for this winter and next summer despite the squeeze on consumer spending due to economic headwinds.

EasyJet said ticket sales for the October school holiday and the Christmas week exceeded pre-pandemic levels.

It said it expects to fly 20 million seats in the three months to the end of December, up 30% compared to last year.

For its last summer quarter, when it tends to make most of its profit, EasyJet said it would post adjusted earnings excluding certain costs of up to £685m, but that was not enough to offset the cancelled flights and Covid-19 restrictions which had dragged earlier in the year.

For the 12 months to the end of September, EasyJet forecast it would post a headline annual loss before tax of between £170-190m, in line with a consensus forecast for a loss of about £180m.

EasyJet also said that it was already seeing demand for next summer, giving it confidence despite the rising cost of living.

"We face the uncertain macro-economic environment with many strengths," chief executive Johan Lundgren said.