Easyjet CEO to exit on a high

Easyjet (LSE:EZJ) chief executive Johan Lundgren is to exit the budget airline, in early 2025, after a seven year term.

The news came as Easyjet reported a 22% jump in revenue for its winter season, with its half-year total amounting to £3.27 billion, driven by an 11% increase in passenger numbers.

Easyjet also boast continuing growth in its complementary holidays business which boosted its six-months revenue by 40% and banked a £31 million profit.

At group level, meanwhile, Easyjet reported a pre-tax loss of £350 million which compared favourably to analyst forecasts of a slightly larger loss of £357 million.

"We are now absolutely focused on another record summer which is expected to deliver strong FY24 earnings growth and are on track to achieve our medium term targets,” Lundgren said.

Kenton Jarvis, Easyjet’s chief financial officer, will step up to take the reins following Lundgren's exit.