Information  X 
Enter a valid email address

Easyjet sees annual loss of up to £845 million; expects to fly 25% of capacity in Q1 2021

By BFN News | 07:36 AM | Thursday 08 October, 2020


Budget airline Easyjet said it expected to fly 25% of planned capacity in the first quarter of next year and to report a loss in the range of £815 million to £845 million on a pandemic-led hit to demand. Passenger numbers for the full year decreased by 50% to 48 million, in line with a decrease in capacity of 48% to 55 million seats. The load factor for the full year would decrease by 4.3% points to 87.2%, the company said. The company said fourth-quarter capacity was 38% of previously planned levels with easyJet flying nine million passengers during the period with a load factor of 76.3%. Total group revenue for the quarter ending 30 September fell 73% to about £620 million, though the headline loss in Q4 was expected to be lower than the loss in Q3. 'Flying peaked in August and then tapered significantly during September when customer demand was materially affected by changes in government travel guidance and quarantine rules. Customers are booking at a very late stage and visibility remains limited,' the company said. The company said would not not be recommending the payment of a final dividend. Looking ahead, easyJet said it expects to fly 25% of planned capacity for Q1 2021. Story provided by StockMarketWire.com

a d v e r t i s e m e n t