Operator
Hi there, and welcome to easyJet’s half yr outcomes presentation for the interval ending thirty first of March 2026.
Let me begin with our efficiency within the first half. Operationally, on-time efficiency has additional improved to 78%, with each the airline and easyJet Holidays persevering with to ship robust buyer satisfaction scores. Underlying H1 2026 outcomes had been in step with our expectations and consistent with the buying and selling assertion in April. Nonetheless, we acknowledge that winter losses stay above the place we deliberate when setting out our medium-term targets. Our focus is on delivering sustainable enchancment in winter efficiency over the approaching years as capability funding matures and progress normalizes. Jan will take you thru the element of our first half monetary efficiency shortly.
The Center East battle has launched near-term volatility for the enterprise, significantly round gas costs and the short-term demand atmosphere. Importantly, we’re managing this volatility from a place of power. Our investment-grade stability sheet offers us with the resilience to allow a rational and disciplined response and our gas hedge place permits us to guard prospects from the near-term worth volatility this summer time.
Whereas we navigate this uncertainty, we stay targeted on our clear technique to ship medium-term margin enchancment. We consider the actions we’re taking now will drive tangible efficiency enhancements as we return to a extra normalized working atmosphere. At this time, I’ll present a method replace, together with how we’re accelerating upgauging, driving price efficiencies and persevering with to develop easyJet Holidays alongside different asset-light margin-enhancing initiatives.
Turning to the element on how we’re managing the present near-term uncertainty. From
