British low-cost carrier Easyjet has warned that its first annual losses could reach 845 million pounds ($1.1 billion), as it flies at only 25% of its planned capacity due to restrictions imposed to curb the spread of the coronavirus (COVID-19) pandemic, Reuters reports.<\/p>\n\n\n\n
Low-cost carrier Easyjet estimates that pre-tax losses for the fiscal year ending September 30, 2020, could range between \u00a3815-845 million. These losses exceed analyst estimates of \u00a3794 million.<\/p>\n\n\n\n
This is the first time Easyjet, founded in 1995, has recorded annual losses.<\/p>\n\n\n\n
CEO Johan Lundgren called on British authorities on Thursday to “accelerate the plan of measures” to help airlines.<\/p>\n\n\n\n
To survive the crisis, Easyjet took a \u00a3600 million government loan, laid off 4,500 employees, sold aircraft generating \u00a3609 million, and received \u00a3419 million from shareholders. However, the airline’s debt reached \u00a31.1 billion, up from \u00a3326 million last year. In the last 12 months, passenger numbers fell by 50% to 48 million, and capacity decreased by 48% to 55 million seats.<\/p>\n\n
Easyjet estimates pre-tax losses between \u00a3815 million and \u00a3845 million for the fiscal year ending September 30, 2020.<\/p>\nHow has the pandemic affected Easyjet’s operations?<\/strong>\n The airline is currently flying at only 25% of its planned capacity, with passenger numbers dropping by 50% to 48 million over the last year.<\/p>\nWhat measures has Easyjet taken to survive the financial crisis?<\/strong>\n The company secured a \u00a3600 million government loan, raised funds through aircraft sales and shareholders, and reduced its workforce by 4,500 employees.<\/p>","protected":false},"excerpt":{"rendered":" British low-cost carrier Easyjet has warned that its first annual losses could reach 845 million pounds ($1.1 billion), as it flies at only 25% of its planned capacity due to restrictions imposed to curb the spread of the coronavirus (COVID-19) pandemic, Reuters reports. Low-cost carrier Easyjet estimates that pre-tax losses for the fiscal year ending…<\/p>\n","protected":false},"author":0,"featured_media":69182,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2856],"tags":[153,130,294],"thb-sponsors":[],"class_list":["post-118191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conectivity","tag-easyjet","tag-pandemie","tag-pierdere"],"article_style_override":"on","post-style":"style2","post_via":"","post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2019\/11\/transport-2.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/118191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=118191"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/118191\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/69182"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=118191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=118191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=118191"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=118191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}