easyJet expects $1.1bn annual loss but sees “positive momentum” into 2022

In a trading update for the year ended 30 September 2021, easyJet has reported an improvement in its headline loss for the quarter and positive operating cash flow and forward booking momentum. The airline’s headline loss before tax for the year ended 30 September 2021 is expected to be between £1,135 million and £1,175 million compared to consensus of £1,175 million. Fourth quarter headline losses decreased by more than half year-on-year with the generation of c.£40 million of operating cash. Coupled with these earnings, easyJet has reduced net debt to c.£0.9 billion from £2.0bn in Q3, following the successful £1.2