easyjet (EZJ) investor relations material

Executive summary

• Q3 headline profit before tax was £85 million, down from £286 million in Q3'25, impacted by the Middle East conflict and elevated fuel prices.

• Strong late booking demand and improved operational performance, with on-time performance at 78% (+2ppts YoY) and airline customer satisfaction at 84% (+3ppts YoY).

• easyJet holidays delivered £84 million headline PBT, showing resilience and 8% customer growth.

Financial highlights

• Group revenue rose 2% YoY to £2,983 million in Q3'26.

• Fuel costs increased 17% YoY to £732 million, with fuel CASK up 13%.

• Group headline EBITDA fell 38% YoY to £304 million; headline EBIT dropped 65% to £104 million.

• Group headline PBT declined 70% YoY to £85 million.

• Cash and cash investments stood at £3.6 billion; net cash position at £661 million.

Outlook and guidance

• FY26 ASK capacity expected to grow ~6% YoY; seats to grow ~3% YoY.

• easyJet holidays customers projected to grow by low double digits in FY26.

• Q4 ticket yield currently flat; load factor 2ppts below prior year but improving.

• H1'27 capacity growth to normalise; early Q1'27 bookings show mid-single digit yield increases.

• H2 FY26 headline CASK ex fuel expected to rise by low single digits; Q4 fuel CASK remains volatile.