EasyJet CEO to step down in 2025

EasyJet chief executive Johan Lundgren will step down in early 2025 after seven years in the top job, the carrier announced on Thursday (16 May).

The European budget carrier’s chief financial officer Kenton Jarvis has been named as Lundgren’s successor and will continue in his current role during the transition period.

EasyJet chair Stephen Hester said Lundgren, who was appointed CEO in December 2017, has done “an excellent job” in steering the carrier through the “immense challenges” brought on by the Covid pandemic and developing and implementing a clear strategy for the future.

“There is good positive momentum and Johan will be with us to close out the current year which we hope will be another one of strong progress,” he said.

The announcement comes as the low-cost carrier reported a £350 million loss in its half-year financial results (from October 2023 to end March 2024).

The result, in line with the carrier’s previously announced expectations, marks a £61 million year-on-year improvement driven by a 12 per cent increase in capacity, according to the airline, as well as a significant boost from easyJet holidays, which saw a 42 per cent year-on-year increase in customer growth.

After reducing its winter losses, the carrier said it is ‘on track’ to deliver a medium-term profit target of more than £1 billion, with some 59 million seats on sale for H2 2024, marking an 8 per cent increase on the same period last year.

Bookings continue to progress in line with expectations, the carrier said, with some 77 per cent of total Q3 seats already sold, a year-on-year increase of 1 percentage point, while approximately 39 per cent of Q4 capacity has already been sold, also up 1 percentage point year on year.

When Jarvis takes the helm in 2025, he is expected to ‘hit the ground running’ and will work closely with outgoing CEO Lundgren during the transition period.

“I am a huge believer in the future for our airline, which is powered by the talents and enthusiasm of our front-line staff. I will be immensely proud to lead our teams to fulfil easyJet’s bright potential,” Jarvis said in a statement.

Jarvis joined easyJet in February 2021. The search for his replacement will commence shortly, the carrier said.