EasyJet is reducing its flight schedule additional after the introduction of recent lockdown measures within the UK and mainland Europe, saying it’s going to solely run a most of 20% of deliberate flights for the remainder of the 12 months.
The airline mentioned it was scaling again days after the UK prime minister, Boris Johnson, introduced contemporary Covid-19 restrictions that ban residents in England from holidaying overseas or throughout the UK until 2 December. EasyJet mentioned related lockdown measures in Germany and France had been additionally affecting flight plans.
The airline’s monetary 12 months begins in October and it mentioned: “EasyJet now expects to fly not more than 20% of deliberate capability for the primary quarter.
“We stay targeted on money generative flying over the winter season to be able to minimise losses throughout the first half and retain the pliability to ramp capability again up shortly once we see demand return.”
The announcement comes solely weeks after easyJet mentioned it might be reducing capability to 25% for the remainder of 2020. The airline has taken extra drastic measures than the rival price range airline Ryanair, which just lately mentioned it might run about 40% of its planned capacity from November to March.
EasyJet additionally introduced it had raised nearly £131m via the sale and leaseback of 11 of its A320 planes. After the most recent deal, easyJet now owns solely 41%, or 141 planes, of its fleet.
The airline has been attempting to boost additional money as a second wave of coronavirus instances and ensuing lockdowns threaten to place additional strain on its finances. The airline mentioned final month it was more likely to report a loss within the vary of £815m to £845m for the 12 months to September – its first annual loss within the 25-year historical past of the airline.
“EasyJet will proceed to assessment its liquidity place frequently and can proceed to evaluate additional funding choices, together with those who exist within the strong sale and leaseback market,” the corporate mentioned.