Investor Presentaiton
BUILDING EUROPE'S BEST NETWORK
Leveraging slot growth on existing network
> Growth where returns are above network average contribution
#1 carrier into the Greek Islands, +65% growth with no dilution to
historical returns
Porto - 67% growth, taking #2 position from TAP
> Launching Birmingham base for FY24
Capacity Growth & Reallocation¹
Berlin rightsized
> c.190% improvement in profitability through:
A focus on key city pairs & leisure flows
Removal of German domestics
Increased utilisation from longer sector length
> Remain #1 carrier in Berlin
Berlin delivering higher returns
Expected contribution per block hour for FY23
UK
+11 AIRCRAFT
PORTUGAL
+11 AIRCRAFT
DESTINATION BASES
+11 AIRCRAFT
GERMANY
-24 AIRCRAFT
c.190%
FY19
FY20
FY21
FY22
FY23
1) vs 2019, seat capacity converted into Aircraft equivalent
HY 2023 RESULTS
GREEK ISLANDS
+9 AIRCRAFT
Reallocating aircraft to deliver higher returns
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