Transport: Large $20-Billion Order From Easy Jet

British low-cost airline Easy Jet has ordered 157 new Airbus aircraft and reserved 100 more. The $20 billion operation aims to modernize the fleet after a summer of record profits. In the last quarter, they exceeded £600 million, with passenger traffic growing by 8%. The airline has estimated 2023 profit before tax at £440 to £460 million. By comparison, 2022 ended with £178-million loss.

Mobility restrictions caused by the Covid pandemic are a thing of the past. The British company will return to paying a dividend of 10%, which will rise to 20% in 2024. This goes against the trend for other companies, primarily direct competitor Ryanair.

“We have reached a proposed agreement with Airbus for an additional order of 157 aircraft and another 100 with an option to purchase,” the airline’s chief executive Johan Peter Lundgren explained to Italian newspaper La Stampa. “This will enable Easy Jet to continue to upgrade and expand its fleet beyond 2028, while delivering significant benefits including cost efficiency and improved sustainability.”

Deliveries will take place between 2028 and 2034. Overall, Easy Jet ordered 315 new aircraft and reserved 100 more from the Toulouse company.