Headline loss before tax of £545 million (H1 2021: £701 million loss).Headline Airline cost per seat excluding fuel at constant currency decreased by 59.0% to £54.71 (H1 2021: £133.51). Airline headline cost per seat at constant currency decreased by 55.0% to £66.81 (H1 2021: £148.59). The cost per seat performance continues to be impacted by volume. Group headline costs excluding fuel and FX gains increased by 94.2% to £1,684 million (H1 2021: £867 million), driven by an increase in capacity flown as easyJet continues to ramp up capacity.ĮasyJet recorded a £2 million gain from foreign exchange (H1 2021: £24 million gain), related to the impact of stronger Sterling on our net foreign currency-denominated liabilities. Airline ancillary revenue per seat also increased by 44.6% to £15.12 (H1 2021: £10.46) as we continue to see incremental benefits from the new ancillary products which have been launched since H1 of FY21. Group ancillary revenue increased by 632.9% to £513 million (H1 2021: £70 million) as capacity increased. Trading strengthened again in February and March as restrictions were removed. Passenger RPS increased by 22.7% to £32.49 (H1 2021: £26.47) due to demand returning as travel restrictions eased in the early part of H1 as customers enjoyed the late summer season before a temporary pause in December and January as a result of the Omicron variant. Passenger revenue increased by 479.4% to £985 million (H1 2021: £170 million) as we flew increased levels of capacity compared to the same period last year. Total revenue increased by 524.2% to £1,498 million (H1 2021: £240 million) in line with capacity increasing to 30.3 million seats (H1 2021: 6.4 million) because of pandemic-related travel restrictions being more relaxed than they were in the same six months last year. Carbon obligation for CY’22 100% covered at €19/MT.easyJet is currently c.71% hedged for fuel in H2 of FY22 at c.US$619 per metric tonne, c.49% hedged for H1 FY23 at c.US$701 and c.20% hedged for H2 FY23 at c.US$807.Q3 Capacity expected to be c.90% of FY19.Holidays >70% sold and on track to deliver medium term target of £100m+ PBT.

Q4 Sold ticket yields are currently 15% above 2019 and load factors expected to be >90%.Easter holidays saw load factors of 90%.In the last 10 weeks, bookings have been 6% above the same period in 2019.Forward bookings for the third quarter are 76% sold and 36% sold for the fourth quarter.easyJet holidays is continuing to build, as the UK’s fastest growing holiday company and remains on track to carry >1.1 million passengers in FY22 with over 70% of the program sold. Booking patterns have remained shorter than they were pre pandemic, however in the last 10 weeks bookings have consistently been above the levels in the same period of 2019. Despite this, bookings continue to be strong as we have seen demand, post the impact of the Omicron variant, returning with the removal of travel restrictions.

easyJet has taken action to address these pressures, which includes proactively managing the schedule, reducing cancellations through various measures such as, boosting recruitment, and improving ID processing. The airline industry has recently been experiencing operational pressures, which mainly impacted easyJet through early April. Additionally, the steps we have taken to transform our ancillary offering are delivering significant levels of incremental revenue generation without cannibalising our ticket revenue. In the second half of the year leisure and domestic routes have fully recovered with capacity at 113% and 104% of FY19 levels respectively, whilst business and city traffic continues to recover with demand currently below FY19 levels. EasyJet has continued to allocate aircraft to the markets where we see demand at its strongest.

Jet calendar 2017