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EasyJet reported wider first-half losses as revenue slumped amid travel restrictions that weighed on demand, but the budget airline said it expected capacity levels to pick up from June onwards.
For the half-year ended 31 MArch, pre-tax losses widened by 82.7% to £645 million year-on-year as revenue slumped 89.9% to £240 million.
Capacity fell 85% to 6.4 million seats as Passenger numbers for decreased by 89.4% to 4.1 million.
The company said second quarter cash burn came in better than guidance, helping to deliver results in line with guidance.
'Based on current travel restrictions in the markets in which we operate, easyJet expects to fly c.15% of 2019 capacity levels in Q3 with an expectation that capacity levels will start to increase from June onwards,' the company said.
The company said its flexibility to ramp capacity up or down quickly owing to the unwinding of travel restrictions and expected demand would ' involve increased variable costs during Q3 as we bring pilots and crew off furlough in readiness for the peak summer season in Q4.'