easyJet flights are now 90% full and your next ticket will cost more
Key Points
- easyJet load factor hit 90% in H1 FY26, up two percentage points year on year, with passengers up 6% to 42 million
- Airline revenue per seat rose 5% to £73.36 as easyJet raised its minimum ticket fare
- Half-year loss widened to £552 million, including a £25 million unhedged fuel hit from the Middle East conflict
- Jet fuel spot price of around $1,350 per metric tonne sits well above easyJet's $726 hedged rate, with 28% of H2 fuel unhedged
- Forward bookings show Q3 at 79% sold and Q4 ticket yields modestly higher year on year
easyJet has raised its minimum ticket fare and packed a record 90% of seats on its winter flights, as the airline absorbs a £25 million fuel hit from the Middle East conflict.
The carrier flew 42 million passengers in the six months to 31 March 2026, up 6% year on year, with load factor climbing two percentage points to 90%.
Airline revenue per seat rose 5% to £73.36, and total airline revenue grew 10% to £3.44 billion. Despite the fuller planes and higher yields, the group reported a £552 million half-year loss before tax, widening from £394 million a year earlier, with unit costs excluding fuel up 8%.
Kenton Jarvis, Chief Executive of easyJet, told investors the airline is responding to the squeeze with direct pricing action.
“easyJet is not seeing any disruption to fuel supply, we continue to operate normally and our customers should book with confidence, taking advantage of our great value fares,” he said.
The group confirmed it has raised its minimum ticket fare and launched an active review of all discretionary cost, while keeping the full summer schedule on sale.
The fuel shock came in March, when escalation in the Middle East forced easyJet to buy 18% of that month’s fuel on the spot market at prevailing prices, adding £25 million to costs.
Jet fuel is now trading at around $1,350 per metric tonne against easyJet’s hedged H2 rate of $726, with every $100 per metric tonne movement adding roughly £35 million to the fuel bill. The airline is 72% hedged for the second half, leaving meaningful exposure if prices stay elevated.
Forward bookings tell the same story of pricier seats on busier planes.
Q3 is 79% sold at a booked revenue per seat kilometre 4% behind last year, partly reflecting the earlier Easter, while Q4 is 40% sold with ticket yield modestly up year on year.
Bookings made in the month of departure continue to show year-on-year strength, indicating passengers are paying up for last-minute seats as the booking curve shortens.
The carrier is also accelerating the retirement of its older A319 aircraft, with the entire sub-fleet now due to be phased out by FY29, delivering around £250 million in annual cost efficiencies across FY27 and FY28.
Three A319s were retired in the first half and three new A321neo aircraft delivered, with the average aircraft now seating 182 passengers.
