British low-cost airline EasyJet reported on Thursday that it expects to have reduced losses in the first half of the year by over £50 million (approximately €58 million), due to Easter holidays falling earlier than usual this year.
This spring break timing helped to offset losses caused by the ongoing conflict between Israel and Hamas since 7 October.
The company issued a mid-semester update, notifying that its loss before tax for the semester ending on 31 March will range from £340 to £360 million. This is an improvement from last year's losses of £411 million.
The airline said demand has surged since the end of November, with half-year figures boosted by the Easter holidays falling earlier this year in March.
These improvements have occurred despite losses of around £40 million directly linked to the ongoing conflict between Israel and Hamas. The conflict contributed to the suspension of flights to Israel and Jordan and a decreased demand for travel to Egypt.
EasyJet also disclosed earlier this week that it will halt flights to Tel Aviv for the next six months, following Iran's drone attacks on Israel last weekend.
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However, EasyJet stated that summer bookings "continue to grow well," observing a hike in quantity and price compared to the same period last year.
"Our growth and focus on productivity have reduced winter losses by over £50 million," noted EasyJet CEO Johan Lundgren. He also underlined that the operation network has been strengthened with the opening of two new bases in Alicante (Spain) and Birmingham (United Kingdom).
