In May 2024, easyJet, one of Europe’s leading low-cost airlines, announced that its Chief Executive Officer (CEO), Johan Lundgren, would step down from his role on January 1, 2025, after a seven-year tenure. Lundgren, who joined easyJet in December 2017 from travel company TUI, steered the airline through significant challenges, including the COVID-19 pandemic and the complexities of Brexit.
Under Lundgren’s leadership, easyJet implemented strategic initiatives that strengthened its market position. Notably, the expansion of easyJet Holidays became a significant contributor to the company’s profitability, accounting for over 30% of group profits. Additionally, Lundgren oversaw fleet renewal plans, including a firm order for 157 Airbus A320 family aircraft in December 2023, aimed at enhancing operational efficiency and sustainability.
The announcement of Lundgren’s departure coincided with easyJet’s financial results for the fiscal year ending September 30, 2024. The airline reported an annual pre-tax profit of £610 million, a 34% increase from the previous year, reflecting a strong recovery in passenger demand and successful cost management strategies. This performance was bolstered by a record-breaking summer, with passenger revenue rising by 7% to £1.6 billion in the third quarter, contributing to a 16% increase in pre-tax profit for that period.
Lundgren’s successor, Kenton Jarvis, who has served as easyJet’s Chief Financial Officer (CFO) since 2021, will assume the CEO role on January 1, 2025. Jarvis, also a former TUI executive, brings extensive experience in the travel industry and has been instrumental in negotiating key deals, including the recent aircraft order. His appointment is expected to ensure continuity in the airline’s strategic direction, focusing on growth in the holiday segment and fleet modernization.
In preparation for Jarvis’s transition to CEO, easyJet appointed Jan De Raeymaeker as the new CFO, effective January 20, 2025. De Raeymaeker, formerly CFO at European rail freight operator Lineas and Brussels Airlines, will oversee finance, strategy, fleet, analysis, reporting, and risk management at easyJet.
Lundgren’s departure comes as easyJet sets ambitious targets for the future. The airline aims to achieve regular profits of £1 billion, leveraging the success of easyJet Holidays and plans to grow this segment by 25%. Additionally, easyJet is focusing on improving aircraft utilization and introducing newer, larger aircraft to reduce operational costs and enhance sustainability.
During his tenure, Lundgren emphasized the importance of sustainability in aviation. Under his leadership, easyJet committed to reducing carbon emissions and investing in new technologies to achieve net-zero emissions by 2050. This commitment aligns with the growing environmental consciousness among travelers and positions easyJet as a responsible player in the industry.
Lundgren’s leadership was marked by resilience and adaptability, guiding easyJet through unprecedented challenges and setting a foundation for future growth. As he prepares to depart, the airline is poised to continue its trajectory under new leadership, with a focus on profitability, sustainability, and customer satisfaction.