London, United Kingdom– British no-frills airline EasyJet on Tuesday announced a return to annual net profits after three years of losses in the wake of the Covid pandemic.
Profit after tax stood at £324 million ($409 million) in the 12 months to the end of September on higher demand and increased fares, EasyJet said in a statement.
That compared with a loss after tax of £169 million in its 2021/22 financial year.
EasyJet chief executive Johan Lundgren gave an upbeat outlook.
“We see a positive outlook for this year with airline and holidays bookings both ahead year on year,” he said in the statement.
Lundgren said “consumer research highlights that around three quarters of Britons plan to spend more on their holidays versus last year with travel continuing to be the top priority for household discretionary spending”.