easyJet has seen its loss before tax reach £61m in its first quarter, as the airline published results that one analyst described as "lacking pizzazz".

Despite the loss, the airline said the result remains "supportive" of its own expectations, having marked an improvement on £126m a year earlier.

In the quarter to 31 December, the airline saw passenger growth of 7% year-on-year, while its revenue increased by 13% to £2bn.

Furthermore, its passenger revenue increased by 11% to £1.25bn and its holidays revenue also jumped by 36% to just over £2bn.

Equity analyst at Hargreaves Lansdown, Aarin Chiekrie, noted that easyJet "may not have been at full power in the first quarter", but its performance has "continued to improve dramatically".

He stated: "The package holiday division continues to impress, delivering another period of double-digit profit growth, albeit from a low base. The addressable market for package holidays is huge, and this segment has a long runway ahead if it can keep nailing delivery."

Looking ahead, easyJet said its current booking trends are "supportive of FY25 consensus", with underlying winter losses in the first half set to reduce "when adjusted for the timing of Easter".

Currently, the airline has sold 57% of its forward bookings for the second quarter, which is an increase of two percentage points year-on-year, while sales at easyJet holidays are expected to grow by 25% annually in the full financial year.

Investment director at AJ Bell, Russ Mould, added: "easyJet’s update lacked pizzazz. Saying that current booking trends are ‘supportive’ of full-year market expectations doesn’t exactly instil confidence. It’s woolly language which doesn’t go down well with investors.

"Admittedly the airline is only one quarter into its financial year, but the market needs reassurance that everything is going swimmingly for the business given the fragile economic backdrop and weakening consumer confidence. The fact the share price fell on the update suggests investors are disappointed."

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