easyJet plc (LSE:EZJ) reported a wider headline loss before tax of £93m for the first quarter of its 2026 financial year, reflecting the seasonally weaker winter period, but reiterated its full-year outlook as robust demand and a strong contribution from easyJet holidays helped offset the broader loss.
Passenger numbers increased 7% year on year, supported by capacity expansion, while load factors improved to 90%. Demand trends remained healthy, and easyJet holidays delivered a standout performance, generating £50m of profit and recording 20% growth in customer numbers. The airline also reported operational improvements, including better on-time performance and higher customer satisfaction scores.
Booking momentum was encouraging, with January delivering record booking volumes and forward sales for summer 2026 described as strong. As a result, management maintained full-year guidance, including around 7% growth in available seat kilometres, modest unit cost inflation and continued revenue benefits from recent capacity investments in Italy and newly opened bases.
The group said it remains focused on delivering sustainable profit growth over the medium term, while continuing to invest in operational reliability, customer experience and sustainability initiatives, which it views as key differentiators in the competitive European aviation market.
Overall, easyJet’s outlook is supported by constructive technical indicators and an attractive valuation. Financial performance is showing improvement, with profitability trending positively and the balance sheet remaining stable, although cash flow pressures remain an area to monitor. The absence of recent earnings call updates or major corporate events does not materially alter the current assessment.
More about easyJet
easyJet is a UK-based low-cost airline group operating short-haul flights across Europe and nearby markets. Alongside its core airline business, the group runs easyJet holidays, a fast-growing package travel operation. The company focuses on high-frequency routes from major European airports, combining a value-led model with an increasing emphasis on operational reliability, customer experience and sustainability.
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