Slide 1: Q3 2022 results
Q3 2022 results 26th July 2022
Slide 2: Transformation continuing to deliver
Transformation continuing to deliver Demand for easyJet’s leading network Continued Progression > Q4 – 71% booked, 1 ppt above FY19 > UKs fastest growing holiday company delivers £16m > Q4 sold ticket yield +13% on FY19 profit in Q3 – higher than ever before > October half-term booked load factor in
Slide 3: Industry challenges this summer adding cost
industry challenges this summer adding cost Challenges throughout the ecosystem easyJet action taken > Air Traffic Control delays > Increased crewing resilience > Staff shortages in ground handling and airports > Additional wet leases > Tight labour market including crew > Consolidated flying > Incr
Slide 4: Q3 2022 Key Stats
Q3 2022 Key Stats Q3’22 Q3’21 Var Passengers (000s) 22,001 2,985 637.1% Seats flown (000s) 24,936 4,495 454.7% Load factor 88.2% 66.4% 21.8ppt Passenger revenue (£ million) 1,152 152 657.9% Ancillary revenue (£ million) 603 61 888.5% Total revenue (£ million) 1,755 213 723.9% Total group headline co
Slide 5: Q3 Airline revenue performance
Q3 Airline revenue performance Reported RPS 40% Q3’22 Q3’21 Q3’19 RPS @ CC 44% Passenger Yield1 52.37 50.87 52.56 Ancillary Yield2 22.07 19.78 14.20 Total Yield 74.44 70.65 66.77 > Ancillary RPS continues to deliver with underlying passenger RPS driven by load factor momentum > Q3’22 Passenger yield
Slide 6: Q3 Airline Headline cost per seat
Q3 Airline Headline cost per seat Headline CPS @ CC = (40)% Q3 2021 Disruption Airports Navigation Crew Maintenance Ownership Other2 Q3 2022 Fuel Q3 2022 FX Q3 2022 headline cost & Ground costs headline cost at headline cost headline per seat excl. Handling CC before fuel per seat at CC cost per sea
Slide 7: A stand-out, low-risk, business model that cannot be replicated
A stand-out, low-risk, business model that cannot be replicated > £16m of profit generated in Q3 > Above the previous full year record of £10m1 profit > On track to deliver 1.1m passengers for FY22 > 90% of programme now sold for S22 > 88% of bookings through unpaid channels > Variable cost base of
Slide 8: Fuel & FX hedging
Fuel & FX hedging Q3 effective prices > Jet fuel effective price of $726/MT vs $1,213 market price > USD effective of 1.32/GBP vs 1.26 market price Jet Fuel Q4’22 H1’23 H2’23 Hedged position 83% 60% 33% Average hedged rate ($/MT) 705 784 879 Current spot ($/MT) at 22.07.22 c.1,090 USD Q4’22 H1’23 H2
Slide 9: Summary & outlook
Summary & outlook Q3 Outlook > Group headline loss before tax of £114m including: > Q4 capacity on sale c.90% of FY19 > £133m cost impact from disruption > Q4 load factor expected to be >90% > £36m loss from FX balance sheet revaluations > Q4 currently 71% sold, 1 ppt above FY19 levels > 87% of FY19
Slide 10: Q3 passenger statistics
Q3 passenger statistics April 2022 2021 Change Passengers (‘000) 6,932 524 1,222% Load Factor 86.3% 52.2% 34.1ppts May 2022 2021 Change Passengers (‘000) 7,424 870 753% Load Factor 86.4% 68.1% 18.3ppts June 2022 2021 Change Passengers (‘000) 7,645 1,591 381% Load Factor 92.0% 71.8% 20.2ppts 11