LONDON (Reuters) – British airline EasyJet said on Wednesday it expected smaller losses in the first half of the year, despite a direct impact of around 40 million pounds (46.8 million euros). from the conflict in the Middle East.
The London-listed airline reported a pre-tax loss of 126 million pounds in the first quarter, compared with a loss of 133 million pounds a year ago.
European airlines benefited from strong demand in 2023 as travelers returned to flying after the pandemic, but faced fears over high jet fuel prices, geopolitical instability in the Middle East and the macroeconomic uncertainty.
“We are seeing positive booking momentum for summer 2024, with travel remaining a priority for consumers,” Chief Executive Johan Lundgren said in a statement.
The company added that it was able to mitigate the impact of the war in Israel by increasing capacity in areas where demand was increasing.
Many airlines reorganized their flight paths after the Hamas attack on Israel on October 7 to ensure capacity and flight reservations.
Sixteen aircraft deliveries are also expected to go ahead as planned, the company said.
(Reporting by Joanna Plucinska in London and by Yadarisa Shabong in Bangalore; Nathan Vifflin, edited by Blandine Hénault)
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