Official announcements from regulatory bodies or EasyJet's financial disclosures

EasyJet Profits Surge 34%, Proposes Doubling Dividend; Shares Hit 8-Month High

Nov 27, 2024, 09:30 AM

EasyJet reported a significant increase in annual profits, earning 34% more in its fiscal year due to increased revenues and capacity, resulting in a record-breaking summer. The airline has proposed to more than double its dividend payout for the year, a move that will please shareholders. EasyJet stated it is making "strong progress" towards its medium-term targets, buoyed by robust demand for its holiday package offerings. The company forecasts a 3% capacity increase and plans to take 25% more customers on package holidays in its next financial year. EasyJet's shares rose 2% after the results, reaching an eight-month high. The airline raked in a record $4.5 billion from fare add-ons, although the CEO criticized the "unfair" penalties over this practice.