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Easyjet surprisingly increases the number of flights
Easyjet surprisingly increases the number of flights; Low-cost airline Easyjet plans to expand its range to 40 percent of last year's capacity for the rest
Yazar: Zack Smith
Yayınlanma: 4 Ağustos 2020 21:59
Güncellenme: 7 Kasım 2024 11:17
Easyjet surprisingly increases the number of flights
Low-cost airline Easyjet plans to expand its range to 40 percent of last year's capacity for the rest of the summer due to increased demand. The airline had previously announced 30 percent. Due to the pandemic, Easyjet has had a catastrophic quarter.
According to the deep red numbers in the Corona crisis, the British low-cost airline Easyjet is increasing its flight offer more than previously planned. "Our bookings for the rest of the summer are developing better than expected," said company boss Johan Lundgren when presenting the quarterly figures. In the current business quarter until the end of September, Easyjet will now probably offer 40 percent of the flights originally planned. So far, the management had only planned with a capacity of 30 percent.
The extensive flight freeze in the third business quarter until the end of June; however broke the low-cost airline into deep red numbers. Because Easyjet traffic plummeted 99.6 percent year-on-year to 709 flights, revenue fell by the same amount from £ 1.76 billion to just £ 7 million. Before taxes and special items, Easyjet posted a loss of around £ 325m after a profit of £ 174m a year earlier.
Lundgren also expects red numbers for the important summer quarter. However, the loss is likely to be lower than in the past quarter. The low-cost airline's fiscal year ends at the end of September. But even so shortly before the end, the management did not want to make a financial forecast due to the great uncertainty about the further development of the coronavirus pandemic.
Ryanair also suffers
Most recently, Europe's largest low-cost airline Ryanair reported the most difficult quarter in its 35-year history. Nonetheless, the collapse of air traffic in the third quarter had not torn the airline into the red as deep as feared. The second wave of infection in late autumn is now the biggest concern, the rival of Easyjet and Lufthansa subsidiary Eurowings shared. The bottom line in the first business quarter was a loss of 185 million euros by the end of June after a profit of 243 million a year earlier. Analysts had expected a larger minus. Revenue dropped 95 percent year over year to EUR 125 million, the Irish airline said. You might also be interested in:Ryanair recorded a loss of 185 million euros in the second Corona quarter
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