EasyJet reports weaker annual profit, looks positively towards 2025 [Yahoo! Finance Canada]
EASYJET PLC S/ADR (ESYJY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance Canada
The budget airline reported profit of $750.5 million for the year ended September 30 - below analyst forecasts. It blamed disruptions from the ongoing conflict in the Middle East. However, the number was still 25% higher than a year earlier. CEO Johan Lundgren called it a "significant step" towards the carrier's goal of generating over one billion pounds - or $1.26 billion - in annual profit before tax. EasyJet also gave a positive outlook for next year. The airline said it expects capacity to rise by 3% in fiscal 2025. It sees strong demand continuing and more interest in its lucrative package holiday business. The airline also projects holiday customers to grow by about a quarter from last year for the current fiscal year ending September 2025. Analysts believe lower oil prices should help easyJet's books next year, too. EasyJet shares flew up 3.4% soon after the market opened. Recommended Stories
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