Easyjet Plc S/Adr (ESYJY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Well, hello, everybody, and welcome to EasyJet's full year presentation for the period ending 30th of September 2025. I'm joined today by my full management board on the front row here. So please feel free to ask them questions either after the event or in the Q&A session that we'll have. We also loaded a presentation first thing this morning onto the website. Hopefully you've had a chance to look at that presentation. But if you haven't, I will give you the key highlights of it now and then we'll go straight to Q&A so we have a good amount of time for your questions. So we're very pleased to announce our third consecutive year of earnings growth. From a PBT perspective, that was a 9% increase to £665 million. But actually from an operational performance before financing, so EBIT, we saw an 18% improvement with £56 million of that improvement at EBIT coming from holidays and £50 million of that improvement coming from the airline. On holidays, we had a very successful year for holidays. We were able to reach the 250 million pound medium term target that we set just two years ago. And we did that ahead of schedule. There was strong customer growth. We saw a 20% increase in packaged holiday customers. We also had a 32% increase in profit due to the very low fixed overhead base of that business. We were also really pleased with the proactive actions that we took when it came to resilience measures to set up for the busy summer. We knew air traffic control was a problem. We knew it would be a bigger problem over French airspace, which we're particularly exposed to. And therefore, we wanted to get in front of that and did a lot of measures to do that. And we're very pleased with the performance. We saw a 3% increase in on-time performance And even more pleasing, a 4% incr...