EasyJet swings to profit and reinstates dividend as travel demand soars

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

EasyJet has swung to a profit amid a surge in demand for travel, enabling the low-cost carrier to reinstate its dividend.

The airline on Tuesday said revenues rose 42 per cent to £8bn in the 12 months to September. It posted a profit before tax of £455mn over the same period, following a loss of £178mn last year.

EasyJet announced a dividend of 4.5p a share, amounting to £34mn.

Chief executive Johan Lundgren said: “Our record summer performance demonstrates the success of our strategy and that demand for easyJet remains strong.”

However, the airline noted that early winter results for the 2024 fiscal year would see an impact from the war in Gaza, with flights to Israel and Jordan temporarily paused.