‘’easyJet has made the descent into its first ever loss, as Covid 19 turbulence has rocked the aviation industry. Due to the collapse in air travel, the airline expects to report a pre-tax loss of between £815 and £845 million for the 12 months to the end of September. Over the last three months, it’s only been able to fly 38% of planned capacity. The brief respite of higher bookings in August was dashed after fresh quarantine restrictions were imposed on arrivals across Europe.
The situation is expected to deteriorate over the winter as infections increase, customers remain fearful of flying and tough quarantine rules are kept in place. That is why the company is forecasting that it will only be able to fly a quarter of its planned capacity in the first quarter of 2021. The gravity of the situation, with customer passenger numbers halved to 48 million, has forced it to appeal for urgent government help.
easyJet is facing the worst crisis in its history and like its transatlantic peers, the company is now being forced to play a waiting game, to see if its call will be answered and a rescue package will land to help it navigate through this crisis.’’