Online operator boosts airline profit as it expects to carry 1.1 million tourists this year
EasyJet Holidays is on track to post a profit of over £35m this year as it targets 30% customer growth in 2023.
The UK low-cost airline’s in-house tourism operation expects to carry 1.1 million tourists this fiscal year.
This is the first step towards the strategic target of more than £100m of pre-tax profit in the medium term, the company told analysts at City in an update.
EasyJet Holidays is seizing the airline’s European leisure network as an opportunity to generate “strong and growing returns” while taking market share from rival tour operators.
This is being achieved through its “uniquely positioned” business model that has a 95% variable cost base.
The presentation to discuss the “rapid growth” of easyJet’s holiday business was delivered by the operator’s chief executive, Garry Wilson, and the airline’s chief financial officer, Kenton Jarvis.
EasyJet CEO Johan Lundgren said: “EasyJet Holidays was created to meet our customers’ demand for package holidays to destinations they know and love across our network.
“It has become the fastest growing holiday company in the UK and our unique business model is working with easyJet Holidays well on track to achieve our medium-term profit target of over £100m.”
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