Highlights of EasyJet’s Fiscal Year 2024 Performance
1. Strong Profit Growth

Headline profit before tax surged 34% to £610 million from £455 million in FY 2023.
Record second-half profits of £960 million underscored robust demand.

2. Passenger and Holidays Growth

Passenger numbers grew 8% year-over-year, reaching 89.7 million, driven by new routes and expanded networks.
EasyJet Holidays posted a 56% rise in profits to £190 million, with customer numbers up 36%.

3. Improved Winter Losses

Winter losses reduced by £40 million due to operational efficiencies like better aircraft utilization and an expanded holiday portfolio.

4. Cost Management Amid Inflation

Despite industry-wide inflationary challenges, EasyJet kept cost increases minimal, with cost per seat (excluding fuel) rising only marginally.

Outlook for 2025
Increased Capacity and Optimized Operations

Seat capacity to rise by 3% in fiscal year 2025.
Further reduction in winter losses expected, with a strong start projected for Q1.

Investment Considerations
RBC Capital Markets highlights EasyJet’s attractions, especially in its Holidays division. However, some competitors may offer higher margins or trade at more attractive valuations.

Financial Tools to Explore

Assess EasyJet’s valuation using the Advanced DCF.
Monitor EasyJet’s sector positioning via Sector P/E Ratio.