Business

North's biggest airline EasyJet cuts losses as consumers are 'safeguarding their holidays'

EasyJet's expansion at Belfast City Airport will contribute to its biggest ever operation in the north this summer.
EasyJet's expansion at Belfast City Airport will contribute to its biggest ever operation in the north this summer. EasyJet's expansion at Belfast City Airport will contribute to its biggest ever operation in the north this summer.

THE north’s biggest airline EasyJet said it reduced its loss before tax in the six months to the end of March.

The company reported a loss of £415 million, compared with £557m a year earlier.

It carried 33.1 million passengers over the six-month period, up 41 per cent year-on-year.

It comes as the airline continues to embark on a significant expansion of its operation in Northern Ireland.

The budget carrier is introducing new year-round flights to Manchester and Luton from Belfast City Airport this summer, which will make it the second biggest airline at the airport.

EasyJet is also adding an eighth aircraft at Belfast International Airport, ahead of what will be its biggest ever summer operation in the north/

The airline’s chief executive Johan Lundgren said: "EasyJet's optimised network combined with the strong demand seen for flights and holidays, enhanced revenue capabilities and operational resilience means we enter the summer with confidence.

"Recent research has shown that travel is the number one priority for household discretionary spend, with customers safeguarding their holidays and increasingly opting for low-cost airlines and brands which provide great value."

The average ticket price paid in the six months to the end of March was £61, up 24 per cent on a year earlier.

EasyJet stressed that two thirds of the increase was due to a surge in fuel prices, and noted that half its fares currently on sale are no more than £50.

The company also announced it will open its ninth UK base at Birmingham Airport in March 2024.

It said it will base three aircraft at the airport, creating around 100 direct jobs for pilots and crew, and supporting around 1,200 jobs in total.

EasyJet already operates flights to and from the airport, which recent analysis by the PA news agency found was the worst in the UK for delays to departing flights in 2021 and 2022.

The move to open a new base comes as the airline will operate its largest UK summer flying programme this year, with capacity up by around 8 per cent compared with before the coronavirus pandemic.

Mr Lundgren said: "Having already served Birmingham for many years, the decision to open a base and grow at the airport now is testament to the strong demand we see, coupled with the importance of the UK market in supporting our profitable growth.

"The UK is easyJet's largest market with 55 per cent of all easyJet passengers flying to and from UK airports, so this move will not only reinforce our leadership position as the UK's largest airline, but also demonstrates our confidence in the resilient strength of demand for travel, with customers choosing us for our trusted brand, unrivalled network and great value fares."

Birmingham Airport chief executive Nick Barton described the decision as "a huge vote of confidence in the West Midlands".

He added: "Years of hard work have led to this. Together we look forward to years of future success."