How the Humble Package Holiday is Fueling EasyJet’s Record Profits 

Surging demand for package holidays helped easyJet achieve record-breaking profits this summer. On Wednesday, the British budget airline reported an 11% rise in earnings for the all-important quarter from July through September. 

Pre-tax profits for the year to the end of September were £610 million ($769 million), comfortably up on the £455 million ($574 million) posted a year earlier. The numbers contrast easyJet’s two biggest low-cost rivals Ryanair and Wizz Air - which both saw profitability soften during the period.

While multiple factors are at play, some of the strongest tailwinds came from easyJet’s package holiday division. This rapidly growing business bundles flights, accommodation, and other vacation products to provide consumers with a one-stop shop to build a customized getaway.

Earnings from the subsidiary soared by 56% and now represent almost a third of company-wide profits. EasyJet Holidays customers rose 36% year-on-year to reach 2.6 million.

Speaking on Wednesday, Kenton Jarvis, easyJet's CFO and incoming CEO shared