EasyJet reveals £34m windfall after record profit performance

EasyJet has reinstated its dividend for the first time since the COVID crisis while revealing a return to annual profitability.

The no-frills carrier said profit before tax over the 12 months to 30 September came in at £455m - a £633m improvement on the previous year and the first positive figure since the public health emergency struck in 2020.

It credited record profitability over the second half of its financial year, which covered the summer peak, as passenger numbers surged.

The company announced a final dividend of 4.5p per share - equivalent to a £34m payout - and remained upbeat for the current year despite an admission that the Israel-Hamas war would continue to prove a drag on earnings.

It said the shareholder reward for 2023 was equivalent to 10% of after-tax profits and it expected the figure to rise to 20% in 2024.