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Business News

EasyJet warns of pre-tax loss of up to £1.18bn due to COVID pandemic

today12/10/2021

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EasyJet expects to post a pre-tax loss of between £1.14bn and £1.18bn in the 12 months to the end of September as a result of the COVID-19 pandemic.

The airline said that it has seen a jump in the number of passengers flying since coronavirus-related restrictions were eased, but international travel continues to struggle.

Capacity is expected to be up to 70% of 2019 levels during the winter quarter, with 100,000 new seats being added for those travellers seeking winter sunshine.

It comes after capacity in the past three months hit 58% of 2019 levels, compared with just 17% in the three months to the end of June.

International travel was hampered by government restrictions and remained at just 32% of 2019 levels, although there was strong growth in travel within the UK and EU.

Johan Lundgren, the airline’s chief executive, said: “It is clear recovery is under way.

“Business travel is returning to easyJet with corporates and SMEs attracted by our value, network and approach to sustainability.

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“We have seen city breaks beginning to return alongside growing demand for leisure travel from customers looking for flights and holidays to popular winter sun destinations including Egypt and Turkey.”

EasyJet said customers are continuing to book closer to their planned travel dates and that, due to the “continued level of short-term uncertainty”, it was difficult to provide a forecast for the 2022 financial year.

Shares opened slightly down in the early minutes of Tuesday trading.

 Sky News

© Sky News 2021

Written by: Rother Radio News


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today12/10/2021