Search results
Find financial reports, webcasts and presentations of easyJet plc, a low-cost airline based in the UK. See the latest events and seminars on capital structure, holidays and commercial performance.
- Investor Relations
Disciplined capacity growth c.5% CAGR 2. Ambition to deliver...
- Final Results
Results for the twelve months ending 30 September 2022....
- Half-year Report
As at 31 March 2024, easyJet was contractually committed to...
- Traffic Statistics
easyJet Airline Company Limited Registered in England with...
- Investor Relations
Disciplined capacity growth c.5% CAGR 2. Ambition to deliver >£1bn PBT. 1) ROCE is calculated by taking headline profit/loss before interest and tax, applying tax at the prevailing UK corporation tax rate at the end of the financial year, and dividing by the average capital employed.
- Strategy Update
- Network Strategy
- Customer Excellence
- Exchange rates
- Favourable/(adverse)
- Operating costs and income
- Ownership costs
- Financial measures
- Revenue
- Costs Per seat measures
- Loss for the year Other comprehensive income/(loss)
- Non-current assets
- Current assets
- Current liabilities
- Non-current liabilities
- Critical accounting judgements and estimates
- Critical accounting judgements
- Classification of income or expenses between headline and non-headline items
- Sale and leaseback transactions
- Critical accounting estimates
- Aircraft maintenance provisions - £550 million
- Goodwill and landing rights - £533 million
- Derivative financial instruments – £203 million net asset
- 2. Non-headline items
- Current tax
- Deferred tax
- Charge/(credit) to other comprehensive income/(loss)
- Accumulated depreciation and impairment At 1 October 2020
- Other £ million
- 9. Provisions for liabilities and charges
- Adjustments for non-cash items:
- Changes in working capital and other items of an operating nature:
- GeneratedCaptionsTabForHeroSec
easyJet has prioritised six strategic initiatives that will continue to build on our structural advantages in the European aviation market and enable us to lead the recovery as travel returns. Network strategy Customer excellence Product portfolio evolution easyJet holiday’s Cost focus Sustainability These initiatives, underpinned by operational an...
easyJet has a strong network of leading number one and number two positions in primary airports, which has proven to be amongst the highest yielding in the market. This enables us to be efficient with our network choices, with an emphasis on maximising returns. We have decisively reallocated 43 aircraft to higher returning bases highlighting the st...
easyJet aims to deliver a seamless and digitally enabled customer journey at every stage: Prior to travel – our ‘direct is best’ strategy is led by our digital channels, with an app/mobile-first mindset. Initiatives include optimising our web booking interface; driving app usage and improving the overall experience; enhancing self-service booking...
The proportion of revenue denominated in currencies other than Sterling remained broadly consistent year on year, although the proportion of Sterling revenue has declined as a result of a faster recovery in demand across Europe. The proportion of US Dollar by currency has changed significantly year on year as a result of the US Dollar exchange impa...
Total revenue Fuel Headline costs excluding fuel Prior year balance sheet revaluations Headline total before tax
Airports, ground handling and other operating costs Crew Navigation Maintenance Selling and marketing Other costs Other income
Aircraft dry leasing Depreciation Amortisation Net finance charges Balance sheet foreign exchange gain
Total return on capital employed Headline return on capital employed Airline total loss before tax per seat (£) Airline headline loss before tax per seat (£) Airline total loss before tax per ASK (pence) Airline headline loss before tax per ASK (pence)
Airline revenue per seat (£) Airline revenue per seat at constant currency (£) Airline revenue per ASK (pence) Airline revenue per ASK at constant currency (pence) Airline revenue per passenger (£) Airline revenue per passenger at constant currency (£)
Airline headline cost per seat (£) Airline non-headline (income)/cost per seat (£) Airline total cost per seat (£) Airline headline cost per seat excluding fuel (£) Airline headline cost per seat excluding fuel at constant currency (£) Airline total cost per seat excluding fuel (£) Airline total cost per seat excluding fuel at constant currency (£)
Items that may be reclassified to the income statement: Cash flow hedges Fair value gains/(losses) in the year (Gains)/losses transferred to income statement Hedge discontinuation losses transferred to income statement Related tax (charge)/credit Cost of Hedging Related tax credit Items that will not be reclassified to the income statement:...
Goodwill Other intangible assets Property, plant and equipment Derivative financial instruments Equity investment Restricted cash Other non-current assets Deferred tax assets
Trade and other receivables Intangible assets Derivative financial instruments Current tax assets Restricted cash Money market deposits Cash and cash equivalents
Trade and other payables Unearned revenue Borrowings Lease liabilities Derivative financial instruments Current tax payable Provisions for liabilities and charges Net current assets/(liabilities)
Borrowings Unearned revenue Lease liabilities Derivative financial instruments Non-current deferred income Post-employment benefit obligation Provisions for liabilities and charges Deferred tax
The preparation of the financial statements in conformity with generally accepted accounting principles requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Although these amounts a...
The following are the critical judgements, apart from those involving estimations (which are dealt with separately below), that the Directors have made in the process of applying the Group’s accounting policies and that have the most significant effect on the amounts recognised and presented in the financial statements.
The Group seeks to present a measure of underlying performance which is not impacted by material non-recurring items or items which are not considered to be reflective of the trading performance of the business. This measure of profit is described as ‘headline’ and is used by the Directors to measure and monitor performance. The excluded items are ...
Judgement is required when determining if sale and leaseback proceeds and lease rentals are at fair value. The sale and leaseback transactions completed in the year have been assessed with reference to external valuations specific to the easyJet fleet and deemed to be at fair value. The accounting treatment would have been different if the transact...
The following critical accounting estimates involve a higher degree of judgement or complexity, or are areas where assumptions are significant to the financial statements. The critical accounting estimates concerned are not major sources of estimation uncertainty that have a significant risk of resulting in a material adjustment to the carrying amo...
The most critical estimate required for the provision is considered to be the expected costs of the heavy maintenance checks at the time they are expected to occur. Other estimates also impacting the provision include the future utilisation of the aircraft, the condition of the aircraft, the lifespan of life-limited parts and the rate used to disco...
The recoverable amount of goodwill and landing rights has been determined based on value in use calculations for the whole airline route network cash generating unit. The value in use is determined by discounting future cash flows to their present value. When applying this method, easyJet relies on a number of key estimates including the ability to...
easyJet is exposed to financial risks including fluctuations in exchange rates, jet fuel prices and interest rates. Financial risk management aims to limit these market risks with selected derivative hedging instruments being used for this purpose. The Group holds a number of derivatives and financial instruments including foreign currency forward ...
An analysis of the amounts presented as non-headline is given below:
Adjustments in respect of UK tax for prior years Foreign tax Total current tax charge
Temporary differences relating to property, plant and equipment Other temporary differences Adjustments in respect of prior years Attributable to rates other than the standard UK rate Total deferred tax charge
easyJet reports a headline loss before tax of £1,136 million, ahead of consensus, and a strong financial position to accelerate growth and deliver shareholder returns. The airline has optimised its network, launched new ancillary products, restructured its costs and expanded its fleet and slots.
easyJet reports a headline loss before tax of £1,136 million, ahead of consensus, and a strong financial position to accelerate growth and deliver shareholder returns. The airline has optimised its network, launched new ancillary products, restructured its costs and expanded its fleet and slots.
easyJet reports a headline loss before tax of £1,136 million, ahead of consensus, and a strong financial position to accelerate growth and deliver shareholder returns. The airline has optimised its network, launched new ancillary products, restructured its costs and expanded its fleet and slots.
easyJet reports a headline loss before tax of £1,136 million, ahead of consensus, and a strong financial position to accelerate growth and deliver shareholder returns. The airline has optimised its network, launched new ancillary products, restructured its costs and expanded its fleet and slots.
easyJet reports a headline loss before tax of £1,136 million, ahead of consensus, and a strong financial position to accelerate growth and deliver shareholder returns. The airline has optimised its network, launched new ancillary products, restructured its costs and expanded its fleet and slots.
easyJet reports a headline loss before tax of £1,136 million, ahead of consensus, and a strong financial position to accelerate growth and deliver shareholder returns. The airline has optimised its network, launched new ancillary products, restructured its costs and expanded its fleet and slots.
easyJet reports a headline loss before tax of £1,136 million, ahead of consensus, and a strong financial position to accelerate growth and deliver shareholder returns. The airline has optimised its network, launched new ancillary products, restructured its costs and expanded its fleet and slots.
customers’ trust in the easyJet brand and our enhanced biosecurity procedures, as well as our outstanding value proposition, all give us confidence that easyJet will prosper again in the future. easyJet has raised over £2.4 billion in liquidity since the outbreak of the pandemic, in order to strengthen its investment-grade balance sheet.
Find out how easyJet delivered profitable reallocation, cost focus, brand excellence and sustainable aviation in 2022. Read the chairman's letter, strategic report, financial review, governance framework and more.
Download the PDF document to see how easyJet performed in FY 2021, despite the Covid pandemic. Find out about its financial results, network optimisation, cost restructuring, growth strategy and shareholder returns.
People also ask
What did easyJet do for the year ending 30 September 2021?
How does easyJet engage with investors?
Is EasyJet a good investment?
Who is easyJet plc?
Read the latest financial and sustainability report of easyJet, a low-cost European airline with a strong brand and customer positioning. Find out the highlights, strategy, performance, balance sheet and governance of the company.
