LONDON (Reuters) – British airline easyJet announced on Thursday that its chief executive Johan Lundgren would step down at the start of 2025, while reporting a bigger-than-expected loss for its first half, ahead of a season summer which promises to be busy.
Johan Lundgren, architect of easyJet’s financial recovery from the COVID-19 pandemic, will make way for CFO Kenton Jarvis.
The group announced a first-half pre-tax loss of 350 million pounds (407.83 million euros). Analysts had forecast a loss of 340 million pounds, according to LSEG data. The company posted a loss of 392 million over the same period last year.
On the London Stock Exchange, Easyjet shares fell 7.40% at 07:52 GMT.
“We are now focused on another record summer which should result in strong profit growth for FY24 and we are on track to achieve our medium-term targets,” Johan Lundgren said in a statement.
(Reporting Joanna Plucinska; Dimitri Rhodes, editing by Kate Entringer)
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