EasyJet has suffered its second worst winter in its three-decade history, but expects this summer to be its strongest since the pandemic.
The airline racked up between £340m and £360m of losses between October and March.
However, analysts expected the firm could make as much as £1bn back this summer to complete the year with profits in excess of £650m.
That would top easyJet's most profitable year thus far, after making £578m profit in 2017/18.
That was CEO Johan Lundgren's first year in charge.
Speaking after this year's promising results, he said: “The importance that consumers place on travel coupled with easyJet’s trusted brand has driven good demand for our flights and holidays. Our growth and focus on productivity have reduced winter losses by more than £50m.
"We have further enhanced our network with the launch of new bases in Alicante and Birmingham providing greater choice for consumers across Europe.
"We are well set up operationally for this summer season where we expect easyJet to be one of the fastest growing major airlines in Europe and take more customers on easyJet holidays than ever before."
FTSE 100
The UK's flagship share index, the FTSE 100, was down 39-points at 7,837 shortly after opening this morning.
Brent crude oil futures were up 1.89%, trading at $88.76 a barrel.
Companies reporting today
There are no companies reporting today.