Founded in 1995, low-cost carrier easyJet has established itself among the most significant airlines based in the United Kingdom by passenger numbers. In 2022, EasyJet boarded roughly 36.9 million passengers in the UK, continuing to rank first among airlines in terms of passenger numbers in the UK. While EasyJet has successfully attracted more passengers than British Airways, British Airways remains the
, while EasyJet only ranked fourth in early 2023.
The main effects of the COVID-19 pandemic have been gradually diminishing in both the global aviation industry and the British aviation sector. However, recently, the sector has faced various challenges, such as labor shortages and airport strikes, and these problems have led to additional disruptions for passengers and a
decrease in the satisfaction levels of travelers. Moreover, the cost of flying has substantially increased in the country, with the
consumer price index rising by nearly 16 percent in 2023 compared to the previous year. Despite passengers' growing dissatisfaction with the flight experiences and escalating fares the
British aviation industry was expected to sustain its revenue growth in the coming years.
After COVID-19 trajectories in easyJet
The COVID-19 pandemic had a severe impact on easyJet's financial performance: the
company's annual revenue streams declined by over 50 percent in 2020 and 77 percent in 2021 compared to the pre-pandemic year 2019. The airline's business rebounded in the following years, as the revenue peaked at approximately 8.2 billion British pounds in 2023. That year, the company recorded its first
net profit of 324 million British pounds since the COVID-19 pandemic started. That year, easyJet’s EBITDAR, a significant measure to analyze a company’s performance, reached 1.13 billion British pounds, the highest figure recorded since 2009.
easyJet's strategy to reach net zero
As decided in the Paris Agreement in 2015, all countries and global companies committed to working together to keep the global temperature increase below two degrees Celsius. Like the other global airlines, easyJet steadily creates and implements new strategies to decrease the carbon emissions produced by its operations. In 2023,
easyJet emitted 67.23 grams of CO
2 per revenue-passenger-kilometer.
This figure for Ryanair was 66 g/RPK during the same period. The company's short-term plan is to increase efficiency in its fleet. Therefore,
easyJet has been purchasing Airbus NEO aircraft, which are well known for their fuel efficiency. As of 2023, easyJet had 54 A320Neo and 15 A321Neo. Furthermore, easyJet made long-term agreements with fuel suppliers for future Sustainable aviation Fuel consumption. According to the International Aviation Agency, using
sustainable aviation fuel is the leading way to reduce emissions in the aviation industry.
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