Easyjet at 10% of flights until curbs eased
Budget airline Easyjet expects to operate no more than 10 per cent of its flight programme between January and March as strict travel restrictions show no sign of easing.
The low-cost carrier, which operates a string of domestic and international routes out of Scotland, said revenues plunged 88 per cent at the end of last year, with turnover slumping to £165 million. It flew just 18 per cent of its normal schedule in the three months to the end of December.
The Luton-headquartered group also confirmed that 1,400 UK jobs had been cut as it slashed its workforce by up to 30 per cent to reduce costs to weather the crisis. But it said it is planning for a surge in “pent-up demand” for travel once restrictions begin to ease.
Chief executive Johan Lundgren told investors: “Our performance in the period was in line with management expectations, despite more stringent restrictions coming into place.
“We have taken the right actions to emerge leaner with a reduced cost base, and the retrenchment of legacy carriers at key airports will provide additional opportunities for Easyjet.
“Our core strengths remain unaffected by the pandemic. We have loyal customers who know and trust our brand, an unmatched network, offer value for money and a leading position on sustainability with high customer satisfaction.
"The key to unlocking travel is going to be the vaccination programmes combined with governments progressively removing restrictions when it is safe to. And, in the meantime, our flexible industry-leading policies mean that customers can make plans and book with confidence.”