easyJet plc (ESYJY) Q2 2026 Earnings Call May 21, 2026 5:30 AM EDT
Company Participants
Kenton Jarvis - CEO, Member of the Management Board & Director
Jan De Raeymaeker - CFO, Member of the Management Board & Director
Garry Wilson - Chief Executive Officer of easyJet Holidays & Member of the Management Board
Kenton Jarvis
Sophie Dekkers - Chief Commercial Officer & Member of the Management Board
Conference Call Participants
James Hollins - BNP Paribas, Research Division
Gerald Khoo - Panmure Liberum Limited, Research Division
Jaime Rowbotham - Deutsche Bank AG, Research Division
Andrew Lobbenberg - Barclays Bank PLC, Research Division
Jarrod Castle - UBS Investment Bank, Research Division
Ruairi Cullinane - RBC Capital Markets, Research Division
Conroy Gaynor - Bloomberg Intelligence
Harry Gowers - JPMorgan Chase & Co, Research Division
Presentation
Kenton Jarvis
CEO, Member of the Management Board & Director
Welcome, everybody, to easyJet's half year presentation of the results to the 31st of March 2026. I'm joined today by our Chair, Stephen Hester, and the Management Board here on the front row. We've already released our full presentation to the website this morning. I don't know whether you've had a chance to have a look at it. But if you haven't, I will give a brief summary now before we go through to Q&A.
So starting with our performance for the first half. The underlying H1 results were consistent with expectations and were in line with what we put out in the April trading statement, there was a very limited impact from the Middle East in terms of trading, but obviously, there was a fuel impact with volatile fuel pricing in the month of March, which caused a GBP 25 million additional cost.
Now we clearly recognize that these winter losses are not where we plan them to be when we set out the 2023 targets. And it
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