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easyjet Q1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 TU earnings summary29 Jan, 2026
Executive summary
Q1 FY26 results aligned with expectations, with strategic route investments performing as planned and forward bookings ahead year-on-year.
Passenger numbers grew 7% YoY, outpacing seat capacity growth of 5%, resulting in a 90% load factor (+2ppts YoY).
easyJet holidays saw 20% customer growth YoY, with headline PBT of £50 million.
Operational performance improved, with on-time performance up 4ppts to 77% and airline CSAT up 4ppts to 83%.
Financial highlights
Q1 headline loss before tax was £(93) million, £32 million higher than Q1'25.
Group revenue increased 11% YoY to £2,257 million.
Passenger revenue rose 9% YoY to £1,362 million; airline ancillary revenue up 9% to £584 million.
Holidays revenue grew 26% YoY to £311 million.
Group headline EBITDA was £122 million, down 18% YoY.
Outlook and guidance
FY26 ASK capacity expected to grow ~7% YoY; seats to grow ~3% YoY.
easyJet holidays customers planned to grow up to 15% in FY26.
Q2 airline forward bookings at 63% sold (+2ppts YoY), with RASK expected up low single digits YoY.
FY26 total headline CASK expected to see modest inflation, with cost efficiencies and favorable fuel prices partially offsetting market-wide cost inflation.
Timeline for strategic investment revenue maturity
Quantify H1 CASK inflation drivers and offsets
Key drivers for £1bn PBT medium-term target
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Next easyjet earnings date
Q2 202621 May, 2026
easyjet
Next easyjet earnings date
Q2 202621 May, 2026
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Frequently asked questions
Affordable Air Travel
Established in 1995, EasyJet has evolved to become one of the most important players when it comes to budget air travel, making significant strides in the European aviation industry. The airline which has its home base at London Luton Airport, was founded with the intention of making air travel as cheap as possible, while still offering an appealing overall experience for passengers.
Foundation and Growth
EasyJet's philosophy revolves around keeping the price of air travel as low as it can, offering customers affordable flight options without compromising the essential comforts and safety features of a typical air journey. It commenced operations with a small fleet and two routes out of Luton to Glasgow and Edinburgh. In 1996, just one year after the company was founded, EasyJet took delivery of their first wholly owned aircraft and started flights to Amsterdam. After this, expansion was rapid and today EasyJet is one of the largest budget airlines in Europe.
The Business Philosophy
EasyJet's philosophy revolves around keeping the price of air travel as low as it can, offering customers affordable flight options without compromising the essential comforts and safety features of a typical air journey. One clear example of this is designing their aircraft to be able to fit as many passengers as they can, charging for checked-in luggage, and offering very limited complimentary in-flight services. The company also tends to fly to and from smaller airports (such as Luton Airport in London) while also maintaining a uniform fleet mainly consisting of Airbus A320 family aircraft.
A Focus on Europe
EasyJet is still primarily focused on Europe, but in recent years the company has started to offer routes to select destinations in other parts of the world. The airline operates over 1,000 routes across more than 30 countries, making it one of Europe’s largest airline networks. The most obvious competitor to EasyJet is Ryanair, but they also compete with the likes of KLM and Lufthansa.
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