© Reuters. FILE PHOTO: An easyJet Airbus A320neo aircraft is parked on the tarmac of Adolfo Suarez Madrid-Barajas Airport, in Madrid, Spain, June 22 2022. REUTERS/Isabel Infantes/File Photo
By Joanna Plucinska
LONDON (Reuters) -EasyJet on Tuesday reported 2023 earnings slightly ahead of analysts’ expectations after a year of robust travel demand and forward bookings, but the British carrier said geopolitical instability would weigh on the current quarter.
European airlines have been reporting strong results in recent months but war in the Middle East, high jet fuel prices and the threat of recession have subdued outlooks, with some investors warning profits may have peaked.
EasyJet’s earnings before interest and tax for its financial year to end-September came in at 476 million pounds ($600.9 million), above the 473 million pounds expected by analysts in an LSEG poll and a loss of 27 million pounds last year.
Passenger revenue was reported at 5.2 billion pounds for the 2023 financial year, compared to 3.8 billion pounds in 2022. Shares rose more than 2% in early trading.
The carrier said booking strength for summer 2024 and supply constraints in Europe provided a…
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