easyJet, the British low-cost airline, reported on Wednesday, November 27, a profit before tax of £602 million for fiscal year 2024, up from £432 million in the previous year, driven by significant revenue growth. Excluding one-off items, headline profit before tax increased to £610 million from £455 million year-on-year.
Operating profit rose to £589 million, compared to £453 million last year, while headline operating profit reached £597 million, up from £476 million. EBITDA (earnings before interest, taxes, depreciation and amortisation) climbed to £1.359 billion from £1.126 billion, with headline EBITDA advancing to £1.367 billion from £1.130 billion.
Net profit for the year increased to £452 million, or 59.6p per share, from £324 million, or 42.7p per share, in fiscal 2023. Headline profit grew to £459 million, up from £341 million. Total revenue for the year surged to £9.309 billion, compared to £8.171 billion the year before.
The load factor for the year remained steady at 89.3%, while full-year capacity increased by 8% to 100.4 million seats. easyJet carried 89.68 million passengers during fiscal 2024, an increase of 6.9 million from the prior year.
The Board has proposed a dividend of 12.1p per share, up from 4.5p per share last year, to be paid on March 21, to shareholders registered as of February 21.
Looking ahead to fiscal 2025, easyJet expects capacity to grow by 3% to approximately 103 million seats. The airline also reaffirmed its medium-term target of achieving profit before tax exceeding £1 billion. (£1.00 = US$1.27 at time of publication).
