Home Business NewsBusinessAviation News easyJet to buy new planes and will resume dividend payments

easyJet to buy new planes and will resume dividend payments

by LLB Finance Reporter
12th Oct 23 11:03 am

easyJet has announced that they intend to buy new aircraft and they will resume dividend payments after making record profits.

Between July and September easyJet expects profits before tax to be between £650 million and £670 million.

An increase in passenger numbers of 8% and a 9% rise in fare compared with the same period in 2022.

At the end of September profit before tax is expected to be between £440 million and £460 million.

The budget airline has placed orders with Airbus for 157 new aircraft, subject to approval of the shareholders.

Chief executive Johan Lundgren said: “We have delivered a record summer with strong demand for easyJet’s flights and holidays with customers choosing us for our network, value and service.

“This performance has demonstrated that our strategy is achieving results and so today we have set out an ambitious road map to serve more customers and deliver attractive shareholder returns, underpinned by a continued focus on costs and operational excellence.

“Our new medium-term targets provide the building blocks to deliver a PBT (profit before tax) greater than £1 billion.

“This will be driven by reducing winter losses, upgauging our fleet and growing easyJet Holidays.”

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