easyjet (EZJ) Q3 2025 TU earnings summary

Executive summary

• Q3 headline profit before tax reached £286 million, up £50 million year-over-year and in line with expectations.

• Airline passenger numbers increased by 2% with a 0.2 ppt improvement in load factor compared to the same quarter last year.

• easyJet holidays delivered £86 million profit before tax, a £13 million year-over-year increase.

• Operational performance improved, with a 4ppt rise in on-time performance and customer satisfaction scores.

Financial highlights

• Group revenue for Q3 was £2,918 million, up 10.9% year-over-year.

• Group headline EBITDA increased 16.1% to £491 million; headline EBIT rose 25.2% to £293 million.

• Group headline profit before tax was £286 million, a 21.2% increase year-over-year.

• Airline total headline CASK improved by 0.5% year-over-year; fuel CASK reduced by 7.3%.

• Net cash position at 30 June 2025 was £803 million, up from £327 million at 31 March 2025.

Outlook and guidance

• FY25 ASK capacity growth expected at approximately 9% year-over-year, with H2 growth at 7% and H1 at 12%.

• Q4 forward bookings at 67% sold, up 1ppt year-over-year; easyJet holidays Q4 currently 85% sold.

• FY25 total headline CASK expected to reduce by low single digits year-over-year; CASK ex fuel to be broadly flat.

• easyJet holidays expects FY25 profit before tax to exceed £235 million.

• Q1'26 seat capacity on sale is up approximately 5%, with 19% of the program sold.