Easyjet up 4.5% after reinstating dividend as airline soars to profit

EasyJet rose 4.5% at the trade open, as the company confirmed plans to reinstate its dividend after a three-year halt.

It came as the low-cost airline reported full-year pre-tax profits of £455 million ($574 million), up from a £178 million loss the previous year. Revenue hiked by 42%, as the company raised prices and increased passenger numbers by 19% on the year.

The dividend was announced at 4.5p per share payable in early 2024.

EasyJet flagged headwinds for its winter season from the conflict in the Middle East, which has impacted flights to Israel, Jordan and Egypt and which it said had impacted near-term flight searches and bookings across the industry.

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