(AOF) – The course of the airline Easyjet yields 1.16% on the stock market to 281.80 pence following the publication of a point of activity today. Over the full year ending September, it expects an overall pre-tax loss for the 2022 financial year of between £170m and £190m, in line with analysts’ forecasts of a loss of around £180m. of books. The turnover for the financial year 2022 should be established according to the forecasts of the carrier around 5.77 billion pounds sterling, once morest 1.45 billion in 2021.
The Ebitdar range for the 2002 financial year should be between 560 and 580 million pounds sterling.
The business incurred a foreign exchange loss of around £64 million resulting from balance sheet revaluation and additional disruption costs of around £75 million. These costs are primarily related to operational issues across the industry in the third quarter. The impact of Omicron, the war in Ukraine and the problems experienced by the whole industry this summer all affected operational performance during the year.
Despite this, demand has been strong for easyJet’s core airport network, which continues to deliver results.
EasyJet expects around 20 million seats to be offered in the first quarter of financial year 2023. This is an increase of more than 30% compared to the previous year, the offer capacity in the peak periods, such as the autumn holidays in October and Christmas week, having returned to pre-pandemic levels.
Bookings continue to progress well, with load factors higher than the same period of 2019, and yields remain solid. This flight program makes it possible to maintain a certain resilience while offering a platform to prepare for the ramp-up of summer 23, indicates the carrier in its point of activity.
In accordance with easyJet’s dividend policy and taking into account the expected outcome, the Board of Directors will not recommend the payment of a dividend for the year ended 30 September 2022.
As of September 30, 2022, easyJet had approximately £3.6 billion in cash and money market deposits and net debt of approximately £700 million.
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Once once more weakened results for European airlines
With fuel accounting for up to 35% of their costs, professionals believe European airlines are unlikely to return to profit until 2023 or 2024 at the earliest. These players predict that energy prices will remain high at least until 2023. The International Air Transport Association (IATA) has announced a forecast of cumulative losses of 9.7 billion dollars in 2022 for airlines at around the world, it will still be necessary to wait until 2023 to see the return to profits on a global scale, due in particular to the surge in oil costs and the rise in labor costs. On the positive side, travel demand seems to be resisting the uncertainties caused by the international economic and political situation. However, the uncertainties concerning the Covid, the war in Ukraine, as well as the rise in prices are strengthening last-minute reservations. According to Iata, only 8% of international reservations made at the end of May went beyond September.
The social climate is deteriorating in low-cost companies
These companies are benefiting from a very strong recovery. They had already managed to monopolize 40% of air traffic in 2021, this proportion might even rise to 50% this year. However, strike movements have affected the activity of Volotea, EasyJet and Ryanair, with confrontations over pay and working conditions. In general, the sector faces a shortage of personnel. After having severely cut their workforce in 2020 and 2021, companies and airports must urgently recruit to support the relaunch of activity.