Seasonal demand patterns continue to impact winter performance
British low-cost airline easyJet has reported a headline pre-tax loss of £394 million for the six months ending 31 March 2025, reflecting the challenges typically faced by airlines during the quieter winter travel period. However, the company has described the figures as showing a “slight improvement”, once the later timing of Easter this year is factored in.
The latest financial update compares with a loss of £350 million for the same period last year. While on paper this represents a widening of losses, easyJet maintains that adjusting for the timing of the Easter break — which fell in April this year, beyond the scope of the half-year reporting period — brings the underlying position closer to a £50 million improvement.
Seasonal fluctuation in travel demand is a well-known feature of the airline industry. Winter months generally yield weaker performance due to reduced leisure travel and fewer holidaymakers, while airlines typically recoup losses during the busier summer months.
In a sign of strengthening performance, easyJet carried 18.2 million passengers during the first three months of 2025 — an increase of 8% on the same quarter in 2024. This rise in passenger numbers offers encouragement that demand for air travel remains buoyant, despite broader economic pressures and ongoing global uncertainties.
Chief Executive Johan Lundgren said the airline was “well positioned” for the upcoming summer season, where demand is expected to surge as customers finalise travel plans for holidays across Europe. “Our performance in the first half reflects the usual seasonal patterns, but the growth in passenger numbers and the strong performance of our holidays division demonstrate resilience in our business model,” he added.
Indeed, easyJet Holidays continues to shine as a standout performer within the group’s portfolio. The package holiday arm posted pre-tax profits of £44 million for the six-month period, marking a 42% rise year-on-year. The strong performance is attributed to growing customer confidence in booking bundled travel and accommodation packages, as well as competitive pricing and attractive destination offerings.
The group is hopeful that the recent growth trajectory in its holidays segment will continue to act as a buffer against fluctuations in standalone flight bookings, as consumers increasingly seek hassle-free, all-in-one travel options. EasyJet Holidays now represents an integral part of the airline’s broader strategy to diversify revenue streams.
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Looking ahead, the airline says it expects a return to profitability in the second half of the year, in line with historic seasonal trends. Early booking data reportedly indicates solid demand for popular European summer destinations, with Spain, Greece, and Portugal among the top choices for British travellers.
Analysts have noted that while easyJet’s half-year loss is not unexpected given the seasonality, the uptick in passenger numbers and growing holiday profits are key indicators of underlying strength. However, challenges remain, including high fuel costs, ongoing geopolitical tensions, and the possibility of industrial action across European air traffic control sectors during the summer months.
The airline continues to invest in digital improvements, fleet efficiency, and sustainability initiatives aimed at reducing carbon emissions. Lundgren reaffirmed the company’s commitment to reaching net-zero carbon emissions by 2050 and said sustainability would remain at the heart of future planning.
Despite a difficult winter, easyJet’s latest results hint at cautious optimism, with the airline banking on a strong summer and continued momentum in its package holiday division to deliver a profitable full-year outcome.
