EasyJet in first post-Covid divi after £455m profits

EASYJET is back to paying a dividend to investors for the first time since Covid devastated international travel, but has admitted the Israel/Gaza conflict is hurting customer confidence.

The no-frills airline made £455 million for the year to September, its first profit since the pandemic started in 2020. That still leaves it with much to do to hit a £1 billion profit target pencilled in for 2029. Sales rose 12 months to £8 billion.

That’s good news for Ryanair, Wizz Air and others. Forward bookings are also looking strong.

EasyJet shares jumped 10p to 415p today, Wizz Air slipped 47p to 1826p.

The divi of 4.5p a share — £34 million in all — should placate founder Stelios Haji-Ioannou who has long argued for less investment in planes and more shareholder returns.

The company says dividends should keep rising from here, pointing to higher costs per seat as travellers look to get abroad on holiday after several years more-or-less trapped at home.

Less than 5% of flights are grounded due to the Israel-Hamas war which are bound to hit results next time.