<p>easyJet LON: EZJ 报告截至 2026 年 3 月 31 日的上半年亏损扩大，管理层表示航空公司正在应对中东相关的波动、高企的燃料价格以及较弱的未来预订，且公司财务状况稳健。</p>
<p>首席执行官肯顿·贾维斯表示，上半年的基本业绩符合公司的预期，并与其 4 月的交易声明一致，但承认 “冬季亏损仍高于我们设定中期目标时的计划。” 贾维斯表示，公司专注于改善冬季表现，因为近期的产能投资逐渐成熟，增长正常化。</p>
<p>在运营方面，贾维斯表示准时率提高至 78%，而客户满意度在航空公司和 easyJet Holidays 之间保持强劲。航空公司客户满意度上升 2 个百分点至 84%，easyJet Holidays 则增加 1 个百分点至 85%。</p>
<h2>上半年亏损扩大，燃料、法律准备金和冬季投资施压</h2>
<p>公司报告上半年税前亏损为 5.52 亿英镑，比去年恶化 1.58 亿英镑。税息折旧及摊销前亏损为 5.33 亿英镑，同比下降 1.64 亿英镑。</p>
<p>在财务回顾中，发言人表示，结果符合预期，排除因中东冲突开始后 3 月意外高企的燃料价格带来的 2500 万英镑影响，以及与历史案件相关的法律准备金净增加 3200 万英镑。</p>
<p>航空公司税息折旧及摊销前亏损同比增加 1.8 亿英镑，达到 5.81 亿英镑。公司提到米兰利纳特和罗马菲乌米奇诺新基地的首次冬季运营，导致结果受到 3000 万英镑的负面影响，以及持续的冬季产能投资、某些海滩市场的竞争性过剩和成本通胀主要集中在上半年。</p>
<p>这些压力部分被更强的需求所抵消，乘客载客率上升 2 个百分点至 90%。航空公司收入增长 10%，得益于 6% 的乘客增长和更高的收益，主要来自较长的航段。</p>
<h2>中东冲突带来预订和燃料不确定性</h2>
<p>贾维斯表示，中东冲突给 easyJet 带来了 “短期波动”，特别是在燃料价格和短期需求方面。他表示，冲突开始后，未来预订有所减弱，尽管 3 月的当月出发出现了强劲的临时预订环境，这一趋势持续到 4 月和 5 月。</p>
<p>在夏季，第三和第四季度的未来载客率低于去年水平，此前在冲突之前曾高于去年。贾维斯表示，强劲的临时预订趋势使第三季度的载客率自 4 月交易声明以来提高了 1 个百分点。</p>
<p>公司表示，72% 的燃料需求已以每吨 726 美元的价格对冲，但未对冲部分仍然暴露于现货价格中。管理层表示，在 2026 年下半年，燃料价格每上涨 100 美元每吨，相当于 3500 万英镑的影响。</p>
<p>在冲突开始后，easyJet 暂时暂停了常规短期对冲，同时继续为远期曲线仍处于反向市场的外部月份进行对冲。航空公司还审查了其夏季网络，将约 40 万个座位从冲突邻国重新部署到其更广泛网络中的国内和城市航线。由于燃料价格高企，4 月和 5 月还削减了一些肩季产能，导致净座位减少 0.3%。</p>
<p>贾维斯表示，预计不会有进一步的网络变化，公司打算按计划运营完整的夏季航班。他表示，easyJet 没有看到燃料供应的影响，并继续按计划运营其航班。</p>
<h2>资产负债表仍然是关键关注点</h2>
<p>管理层强调 easyJet 的投资级资产负债表是其韧性的来源。公司报告截至 2026 年 3 月 31 日的总流动性为 47 亿英镑，净现金为 4.34 亿英镑。财务回顾还指出，直到 2028 财年末没有债券到期。</p>
<p>公司自有资产的净账面价值增加至 50 亿英镑，反映出额外的飞机所有权和新发动机。公司表示，86% 的 A320neo 机队现在为自有，超过其 75% 的目标，并且仍在朝着到 2028 财年末自有资产净账面价值超过 75 亿英镑的目标迈进。</p>
<h2>easyJet Holidays 继续增长</h2>
<p>easyJet Holidays 在上半年实现了更强的利润增长，税前利润增长 39% 至 6100 万英镑。税息折旧及摊销前利润增长 50% 至 4800 万英镑。公司表示，业绩得益于 22% 的客户增长和 1 个百分点的利润率改善至 9%。</p>
<p>假期业务报告客户人数达到 130 万，而其在海滩和城市航班上的附加率提高至 6.3%。欧洲客户群同比增长 66%，尽管基数相对较小。</p>
<p>管理层表示，easyJet Holidays 仍在按计划实现 2026 财年低双位数的客户增长，尽管由于当前需求环境，预计下半年的增长将受到相对原始预期的影响。</p>
<p>贾维斯表示，公司计划在今年晚些时候推出新的航班加酒店产品，以便客户在航空公司预订流程中预订城市短途旅行。在德国，easyJet Holidays 计划在 2027 年上半年通过 500 家高街旅行社推出。</p>
<h2>机队现代化和成本举措支撑中期目标</h2>
<p>贾维斯表示，easyJet 仍专注于实现中期利润率改善和超过 10 亿英镑的集团税前利润目标。他表示，公司正在将资本分配到回报最高的地方，使用每架飞机 250 万英镑的税前利润作为门槛。</p>
<p>公司表示，机队升级将在 2027 财年和 2028 财年带来约 2.5 亿英镑的成本效率。管理层表示，所有 A319 飞机将在 2029 年底之前退出机队，退休计划相比之前的计划有所加速。用 A320 和 A320neo 系列飞机替换 A319 预计将降低单位成本，包括每座位的燃油消耗。</p>
<p>在 2027 年和 2028 年期间，公司预计将实现接近每单位 3 英镑的成本效率，包括固定成本规模效益。预计每架飞机的平均座位数将在此期间从 182 个增加到 192 个。</p>
<p>Jarvis 还强调了对数字工具、自动化和人工智能的投资，包括客户服务自动化、干扰自助服务工具、盖特威克的运营技术和时间表优化。他表示，这些举措旨在简化流程、提高可靠性并支持长期的成本节约。</p>
<p>尽管前景不确定，Jarvis 表示 easyJet 的中期财务目标保持不变。他说：“我们仍然专注于推动切实的业绩改善，以便在恢复到更正常的运营环境时。”</p>
<h2>关于 easyJet LON: EZJ</h2>
<p>我们是一家低成本的欧洲点对点航空公司。我们利用成本优势、运营效率和在主要机场的领先地位，为客户提供低票价，使每个人都能享受高性价比的旅行。我们的目标是以具有竞争力的价格提供简单、便捷的旅行和假期，并提供卓越的客户服务。easyJet 是全球最大的航空公司之一，拥有 347 架飞机，在 35 个国家和 160 个机场运营 1,099 条航线。</p>
<p><em>此即时新闻提醒由叙事科学技术和 MarketBeat 的金融数据生成，以便为读者提供最快的报道和公正的覆盖。如对本故事有任何问题或意见，请发送邮件至 contact@marketbeat.com。</em></p>
<h2>你现在应该投资 1,000 美元在 easyJet 吗？</h2>
<p>在考虑 easyJet 之前，你需要听听这个。</p>
<p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只顶级分析师悄悄建议客户在更广泛的市场注意到之前立即购买的股票……而 easyJet 并不在名单上。</p>
<p>虽然 easyJet 目前在分析师中获得持有评级，但顶级分析师认为这五只股票更值得购买。</p>
<p>在这里查看这五只股票</p>

<p>易捷航空（easyJet）报告称，截至 2026 年 3 月 31 日的上半年亏损扩大至 5.52 亿英镑，主要受到燃油价格上涨和由于中东局势波动导致的预订疲软的影响。首席执行官肯顿·贾维斯（Kenton Jarvis）指出，准时表现和客户满意度有所改善，但承认冬季亏损超出预期。该航空公司已对 72% 的燃油需求进行了对冲，并根据冲突调整了夏季航线网络。尽管面临挑战，易捷航空仍保持强劲的资产负债表，流动性达到 47 亿英镑</p>

<p>easyJet LON: EZJ reported a wider first-half loss for the period ended March 31, 2026, while management said the airline is responding to Middle East-related volatility, higher fuel prices and softer forward bookings from a position of balance sheet strength.</p>
<div class="lb-trans"><p>easyJet LON: EZJ 报告截至 2026 年 3 月 31 日的上半年亏损扩大，管理层表示航空公司正在应对中东相关的波动、高企的燃料价格以及较弱的未来预订，且公司财务状况稳健。</p>
</div><p>Chief Executive Kenton Jarvis said underlying first-half results were consistent with the company’s expectations and in line with its April trading statement, but acknowledged that “winter losses remain above where we planned when setting out our medium-term targets.” Jarvis said the company’s focus is on improving winter performance as recent capacity investments mature and growth normalizes.</p>
<div class="lb-trans"><p>首席执行官肯顿·贾维斯表示，上半年的基本业绩符合公司的预期，并与其 4 月的交易声明一致，但承认 “冬季亏损仍高于我们设定中期目标时的计划。” 贾维斯表示，公司专注于改善冬季表现，因为近期的产能投资逐渐成熟，增长正常化。</p>
</div><p>Operationally, Jarvis said on-time performance improved to 78%, while customer satisfaction remained strong across both the airline and easyJet Holidays. Airline customer satisfaction rose 2 percentage points to 84%, and easyJet Holidays increased 1 percentage point to 85%.</p>
<div class="lb-trans"><p>在运营方面，贾维斯表示准时率提高至 78%，而客户满意度在航空公司和 easyJet Holidays 之间保持强劲。航空公司客户满意度上升 2 个百分点至 84%，easyJet Holidays 则增加 1 个百分点至 85%。</p>
</div><h2>First-half loss widens as fuel, legal provisions and winter investments weigh</h2>
<div class="lb-trans"><h2>上半年亏损扩大，燃料、法律准备金和冬季投资施压</h2>
</div><p>The company reported a first-half loss before tax of GBP 552 million, a deterioration of GBP 158 million from the prior year. Headline losses before interest and taxes were GBP 533 million, down GBP 164 million year over year.</p>
<div class="lb-trans"><p>公司报告上半年税前亏损为 5.52 亿英镑，比去年恶化 1.58 亿英镑。税息折旧及摊销前亏损为 5.33 亿英镑，同比下降 1.64 亿英镑。</p>
</div><p>In the financial review, the speaker said the result was in line with expectations excluding a GBP 25 million impact from unexpectedly high fuel prices in March following the start of the Middle East conflict and a GBP 32 million net increase in legal provisions tied to historic cases.</p>
<div class="lb-trans"><p>在财务回顾中，发言人表示，结果符合预期，排除因中东冲突开始后 3 月意外高企的燃料价格带来的 2500 万英镑影响，以及与历史案件相关的法律准备金净增加 3200 万英镑。</p>
</div><p>Airline losses before interest and taxes rose GBP 180 million year over year to GBP 581 million. The company cited the first winter of operations at its new Milan Linate and Rome Fiumicino bases, which negatively affected results by GBP 30 million, along with continued winter capacity investments, competitive overcapacity in some beach markets and cost inflation weighted toward the first half.</p>
<div class="lb-trans"><p>航空公司税息折旧及摊销前亏损同比增加 1.8 亿英镑，达到 5.81 亿英镑。公司提到米兰利纳特和罗马菲乌米奇诺新基地的首次冬季运营，导致结果受到 3000 万英镑的负面影响，以及持续的冬季产能投资、某些海滩市场的竞争性过剩和成本通胀主要集中在上半年。</p>
</div><p>Those pressures were partially offset by stronger demand, with passenger load factors up 2 percentage points to 90%. Airline revenue rose 10%, supported by 6% passenger growth and higher yields, primarily from longer sector lengths.</p>
<div class="lb-trans"><p>这些压力部分被更强的需求所抵消，乘客载客率上升 2 个百分点至 90%。航空公司收入增长 10%，得益于 6% 的乘客增长和更高的收益，主要来自较长的航段。</p>
</div><h2>Middle East conflict creates booking and fuel uncertainty</h2>
<div class="lb-trans"><h2>中东冲突带来预订和燃料不确定性</h2>
</div><p>Jarvis said the Middle East conflict has introduced “near-term volatility” for easyJet, particularly around fuel prices and short-term demand. He said forward bookings softened after the conflict began, although March saw a strong late-booking environment for in-month departures, a trend that continued through April and May.</p>
<div class="lb-trans"><p>贾维斯表示，中东冲突给 easyJet 带来了 “短期波动”，特别是在燃料价格和短期需求方面。他表示，冲突开始后，未来预订有所减弱，尽管 3 月的当月出发出现了强劲的临时预订环境，这一趋势持续到 4 月和 5 月。</p>
</div><p>For the summer, forward load factors for the third and fourth quarters were below prior-year levels after previously being ahead year over year before the conflict. Jarvis said strong late booking trends improved third-quarter load factors by 1 percentage point since the April trading statement.</p>
<div class="lb-trans"><p>在夏季，第三和第四季度的未来载客率低于去年水平，此前在冲突之前曾高于去年。贾维斯表示，强劲的临时预订趋势使第三季度的载客率自 4 月交易声明以来提高了 1 个百分点。</p>
</div><p>The company said it has 72% of its fuel requirements hedged at USD 726 per metric ton, though the unhedged portion remains exposed to spot prices. For the second half of 2026, management said every USD 100 per metric ton movement in fuel prices equates to GBP 35 million.</p>
<div class="lb-trans"><p>公司表示，72% 的燃料需求已以每吨 726 美元的价格对冲，但未对冲部分仍然暴露于现货价格中。管理层表示，在 2026 年下半年，燃料价格每上涨 100 美元每吨，相当于 3500 万英镑的影响。</p>
</div><p>After the start of the conflict, easyJet temporarily suspended regular short-term hedging while continuing to layer in hedges for outer months where the forward curve remained in backwardation. The airline also reviewed its summer network, redeploying about 400,000 seats away from countries adjacent to the conflict and into domestic and city routes across its broader network. It also trimmed some shoulder-season capacity in April and May due to elevated fuel prices, resulting in a net seat reduction of 0.3%.</p>
<div class="lb-trans"><p>在冲突开始后，easyJet 暂时暂停了常规短期对冲，同时继续为远期曲线仍处于反向市场的外部月份进行对冲。航空公司还审查了其夏季网络，将约 40 万个座位从冲突邻国重新部署到其更广泛网络中的国内和城市航线。由于燃料价格高企，4 月和 5 月还削减了一些肩季产能，导致净座位减少 0.3%。</p>
</div><p>Jarvis said no further network changes are anticipated and that the company intends to operate the full summer schedule on sale. He said easyJet sees no fuel supply impact and continues to operate its schedule as planned.</p>
<div class="lb-trans"><p>贾维斯表示，预计不会有进一步的网络变化，公司打算按计划运营完整的夏季航班。他表示，easyJet 没有看到燃料供应的影响，并继续按计划运营其航班。</p>
</div><h2>Balance sheet remains a key focus</h2>
<div class="lb-trans"><h2>资产负债表仍然是关键关注点</h2>
</div><p>Management emphasized easyJet’s investment-grade balance sheet as a source of resilience. The company reported total liquidity of GBP 4.7 billion and a net cash position of GBP 434 million as of March 31, 2026. The financial review also noted that there are no bond maturities due until full-year 2028.</p>
<div class="lb-trans"><p>管理层强调 easyJet 的投资级资产负债表是其韧性的来源。公司报告截至 2026 年 3 月 31 日的总流动性为 47 亿英镑，净现金为 4.34 亿英镑。财务回顾还指出，直到 2028 财年末没有债券到期。</p>
</div><p>The net book value of owned assets increased to GBP 5 billion, reflecting additional aircraft ownership and new engines. The company said 86% of its A320neo fleet is now owned, above its 75% target, and it remains on track for the net book value of owned assets to exceed GBP 7.5 billion by full-year 2028.</p>
<div class="lb-trans"><p>公司自有资产的净账面价值增加至 50 亿英镑，反映出额外的飞机所有权和新发动机。公司表示，86% 的 A320neo 机队现在为自有，超过其 75% 的目标，并且仍在朝着到 2028 财年末自有资产净账面价值超过 75 亿英镑的目标迈进。</p>
</div><h2>easyJet Holidays continues to grow</h2>
<div class="lb-trans"><h2>easyJet Holidays 继续增长</h2>
</div><p>easyJet Holidays delivered stronger profit growth in the first half, with profit before tax rising 39% to GBP 61 million. Earnings before interest and taxes increased 50% to GBP 48 million. The company said performance was driven by 22% customer growth and a 1 percentage point margin improvement to 9%.</p>
<div class="lb-trans"><p>easyJet Holidays 在上半年实现了更强的利润增长，税前利润增长 39% 至 6100 万英镑。税息折旧及摊销前利润增长 50% 至 4800 万英镑。公司表示，业绩得益于 22% 的客户增长和 1 个百分点的利润率改善至 9%。</p>
</div><p>The holidays business reported 1.3 million customers, while its attachment rate across beach and city flights increased to 6.3%. The European customer base grew 66% year over year, albeit from a relatively small base.</p>
<div class="lb-trans"><p>假期业务报告客户人数达到 130 万，而其在海滩和城市航班上的附加率提高至 6.3%。欧洲客户群同比增长 66%，尽管基数相对较小。</p>
</div><p>Management said easyJet Holidays remains on track to deliver low double-digit customer growth for full-year 2026, although second-half growth is expected to be affected relative to original expectations due to the current demand environment.</p>
<div class="lb-trans"><p>管理层表示，easyJet Holidays 仍在按计划实现 2026 财年低双位数的客户增长，尽管由于当前需求环境，预计下半年的增长将受到相对原始预期的影响。</p>
</div><p>Jarvis said the company plans to launch a new flight-plus-hotel proposition later this year for the upcoming winter season, allowing customers to book city breaks within the airline booking flow. In Germany, easyJet Holidays plans to launch through 500 high street travel agents in the Berlin catchment area in the first half of 2027.</p>
<div class="lb-trans"><p>贾维斯表示，公司计划在今年晚些时候推出新的航班加酒店产品，以便客户在航空公司预订流程中预订城市短途旅行。在德国，easyJet Holidays 计划在 2027 年上半年通过 500 家高街旅行社推出。</p>
</div><h2>Fleet modernization and cost initiatives underpin medium-term targets</h2>
<div class="lb-trans"><h2>机队现代化和成本举措支撑中期目标</h2>
</div><p>Jarvis said easyJet remains focused on delivering medium-term margin improvement and a target of more than GBP 1 billion of group profit before tax. He said the company is allocating capital where returns are highest, using a hurdle rate of GBP 2.5 million of profit before tax per aircraft.</p>
<div class="lb-trans"><p>贾维斯表示，easyJet 仍专注于实现中期利润率改善和超过 10 亿英镑的集团税前利润目标。他表示，公司正在将资本分配到回报最高的地方，使用每架飞机 250 万英镑的税前利润作为门槛。</p>
</div><p>The company said fleet upgauging will drive around GBP 250 million of cost efficiencies across full-year 2027 and full-year 2028. Management said all A319 aircraft will now exit the fleet by the end of 2029, with retirements accelerated versus the prior plan. Replacing A319s with A320 and A320neo family aircraft is expected to reduce unit costs, including fuel burn per seat.</p>
<div class="lb-trans"><p>公司表示，机队升级将在 2027 财年和 2028 财年带来约 2.5 亿英镑的成本效率。管理层表示，所有 A319 飞机将在 2029 年底之前退出机队，退休计划相比之前的计划有所加速。用 A320 和 A320neo 系列飞机替换 A319 预计将降低单位成本，包括每座位的燃油消耗。</p>
</div><p>Across 2027 and 2028, the company expects to realize just under GBP 3 of unit cost efficiencies, including fixed cost scaling benefits. The average number of seats per aircraft is expected to rise from 182 to 192 over that period.</p>
<div class="lb-trans"><p>在 2027 年和 2028 年期间，公司预计将实现接近每单位 3 英镑的成本效率，包括固定成本规模效益。预计每架飞机的平均座位数将在此期间从 182 个增加到 192 个。</p>
</div><p>Jarvis also highlighted investments in digital tools, automation and artificial intelligence, including customer service automation, disruption self-service tools, operational technology at Gatwick and schedule optimization. He said these initiatives are intended to simplify processes, improve reliability and support cost savings over time.</p>
<div class="lb-trans"><p>Jarvis 还强调了对数字工具、自动化和人工智能的投资，包括客户服务自动化、干扰自助服务工具、盖特威克的运营技术和时间表优化。他表示，这些举措旨在简化流程、提高可靠性并支持长期的成本节约。</p>
</div><p>Despite the uncertain outlook, Jarvis said easyJet’s medium-term financial ambition remains unchanged. “We remain focused on actions that will drive tangible performance improvement as we return to a more normalized operating environment,” he said.</p>
<div class="lb-trans"><p>尽管前景不确定，Jarvis 表示 easyJet 的中期财务目标保持不变。他说：“我们仍然专注于推动切实的业绩改善，以便在恢复到更正常的运营环境时。”</p>
</div><h2>About easyJet LON: EZJ</h2>
<div class="lb-trans"><h2>关于 easyJet LON: EZJ</h2>
</div><p>We are a low-cost, European, point-to-point airline. We use our cost advantage, operational efficiency and leading positions in primary airports to deliver low fares for our customers – making great value travel accessible for everyone. We aim to provide simple, convenient travel and holidays at a competitive price with outstanding customer service. easyJet is one of the largest airlines in the world, with 347 aircraft, operating 1,099 routes across 35 countries and 160 airports.</p>
<div class="lb-trans"><p>我们是一家低成本的欧洲点对点航空公司。我们利用成本优势、运营效率和在主要机场的领先地位，为客户提供低票价，使每个人都能享受高性价比的旅行。我们的目标是以具有竞争力的价格提供简单、便捷的旅行和假期，并提供卓越的客户服务。easyJet 是全球最大的航空公司之一，拥有 347 架飞机，在 35 个国家和 160 个机场运营 1,099 条航线。</p>
</div><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p>
<div class="lb-trans"><p><em>此即时新闻提醒由叙事科学技术和 MarketBeat 的金融数据生成，以便为读者提供最快的报道和公正的覆盖。如对本故事有任何问题或意见，请发送邮件至 contact@marketbeat.com。</em></p>
</div><h2>Should You Invest $1,000 in easyJet Right Now?</h2>
<div class="lb-trans"><h2>你现在应该投资 1,000 美元在 easyJet 吗？</h2>
</div><p>Before you consider easyJet, you'll want to hear this.</p>
<div class="lb-trans"><p>在考虑 easyJet 之前，你需要听听这个。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and easyJet wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只顶级分析师悄悄建议客户在更广泛的市场注意到之前立即购买的股票……而 easyJet 并不在名单上。</p>
</div><p>While easyJet currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>虽然 easyJet 目前在分析师中获得持有评级，但顶级分析师认为这五只股票更值得购买。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>在这里查看这五只股票</p>
</div>

easyJet 上半年财报电话会议的重点内容