First ever annual loss for Easyjet

EASYJET SAYS THAT IT EXPECTS to record annual pre-tax losses of between £815 million and £845 million, representing the first annual loss in the carrier’s 25-year history. This news comes after the three-month grounding of all aircraft earlier in 2020 as a result of the Covid-19 pandemic.

Easyjet said that passenger numbers for the full year to September 30, 2020, fell by 50 per cent to 48 million. Capacity fell to 39 per cent in September (down from 52 per cent in August) as “constantly evolving travel restrictions across Europe” affected customer demand. The airline anticipates operating only 25 per cent of planned capacity in the first quarter of the 2021 financial year, although it said that it would cover “the majority of [its] pre-existing network with reduced frequency”.