EasyJet posts widening losses owing to weaker demand and high costs through slow winter season
EasyJet said it was assessing "the possible impact" of U.S. tariffs on its cost base and "supply chain resilience" but noted that any fallout "remains uncertain at this early stage".
British no-frills airline EasyJet on Thursday announced a widening of net losses for the first half of its financial year as fuel and other costs increased.
EasyJet, which flies mainly in Europe, said losses after tax increased 16 percent to £297 million ($399 million) in the six months to the end of March.
Group revenue climbed to £3.53 billion, while fuel costs rose four percent.
Many airlines tend to post losses during the northern hemisphere winter owing to weaker demand compared with the peak summer season.
“We remain focused on delivering another record summer this year,” EasyJet chief executive Kenton Jarvis said in the earnings statement.
“We continue to see strong demand for EasyJet’s flights and holidays,” he noted, adding that the airline would continue “to drive efficiency and enhance… customer experience both in the sky and on the ground”.
EasyJet said it was assessing “the possible impact” of US tariffs on its cost base and “supply chain resilience” but noted that any fallout “remains uncertain at this early stage”.
The airline meanwhile continues to suspend flights to Tel Aviv amid the Israel-Gaza conflict.
EasyJet’s share price slid three percent at the start of trading in London that followed the results update, despite losses being in line with expectations.
This story was originally featured on Fortune.com
