DBEA55AED16C0C92252A6554BC1553B2 Clicky DBEA55AED16C0C92252A6554BC1553B2 Clicky
February 21, 2024
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The conflict in Israel and Gaza is having a near-term impact on easyJet’s current first quarter of FY24. With flights to Israel and Jordan suspended and demand to Egypt slightly lower, easyJet doesn’t expect its current Q1 loss to improve despite higher revenues year on year. With strong forward bookings for the 2024 summer and industry-wide supply chain issue, the carrier expects all other quarters to produce a solid profit, the airline said on Tuesday in the FY23 earnings presentation.

On October 12, easyJet said in a trading update that Q1 capacity would grow 15 percent year on year. October was still strong, but as the conflict escalated after October 7 and flights were suspended, the effect has been felt. This is despite the fact that Israel, Jordan, and Egypt account for only four percent of the planned capacity for HY1.

 


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