EasyJet: A Leading Low-Cost European Airline
easyJet operates as one of the two major low-cost carriers in Europe alongside Ryanair. Based in London, easyJet has numerous bases across the UK and Europe, significantly influencing global low-cost carrier (LCC) models.
The airline currently flies to over 30 countries and manages more than 900 routes. It employs over 13,000 staff across its several hubs. With a fleet of over 300 aircraft, easyJet transported just over 89 million passengers in 2024, earning a net income of £452 million (approximately US$592 million) by the fiscal year’s end.
Leadership Changes at easyJet
Late last year, easyJet underwent a significant leadership change. Johan Lundgren, CEO for eight years, stepped down and was succeeded by Kenton Jarvis in early 2025.
About Johan Lundgren and Kenton Jarvis
- Johan Lundgren: A Swedish professional with extensive experience in aviation and tourism, previously affiliated with TUI. He is an alumnus of the Stockholm School of Economics and holds an executive certificate from IMD, Zurich.
- Kenton Jarvis: Joined easyJet as CFO in 2021 and has previously served on TUI’s Executive Committee. His earlier career includes roles at PwC and Adidas, as well as Finance Director at Airtours Holidays.
CEO Compensation Analysis
Prior to resigning, Johan Lundgren achieved his highest salary in 2024, amounting to £2.88 million (approximately US$3.77 million), comprising:
- Base salary: £803,000
- Bonus: £1.3 million
- Stock rewards: Nearly £800,000
His successor, Kenton Jarvis, agreed to a base salary of £800,000 and variable bonuses dependent on the airline’s performance.
Comparative CEO Salaries in the Industry
In contrast, Ryanair’s CEO, Michael Kevin O’Leary, earned £3.88 million (about US$5 million) in the same period. Although Ryanair operates on a larger scale and is more profitable, O’Leary’s extensive tenure also justifies his higher compensation and contract extension until 2027-28.
Future Plans for 2025
Kenton Jarvis is poised to lead easyJet into significant growth in 2025. The airline is expected to surpass 100 million passengers for the first time, with 104 million seats available in the 2024-25 fiscal year and 24.1 million passengers served already in Q1.
The summer period will feature 26 new routes, enhancing connectivity between destinations like the UK and Cape Verde. This route expansion is set to increase easyJet’s network to over 1,000 routes and has subsequently driven their share price to an all-time eight-month high.
FAQ: CEO Salary Insights
| Question | Answer |
|---|---|
| How much did Johan Lundgren earn as CEO in his final year? | £2.88 million, including base salary, bonus, and stock rewards. |
| What is Kenton Jarvis’s salary as the new CEO? | A base of £800,000, with performance-based bonuses. |
| How does easyJet’s CEO pay compare with Ryanair’s? | Ryanair’s CEO O’Leary earned £3.88 million due to the airline’s scale and profitability. |
