EasyJet shrinks

In a statement to the London Stock Exchange last Thursday (28 May) easyJet confirmed it will resume flying on 15 June, servicing a small number of mainly domestic routes in the UK and France.

The airline went on to say that so far the booking trends on the resumed flights have been encouraging, and the demand indications for summer 2020 are improving, albeit from a low base. Bookings for winter are well ahead of the equivalent point last year, which includes customers who are rebooking coronavirus-disrupted flights for later dates.

Regarding fiscal Q4 2020 capacity, current plans are that easyJet expects to fly around 30% of Q4 2019. This will continue to be evaluated reflecting changing regulations and customer demand.

Looking further forward, easyJet expects its year end 2021 fleet size to be at the bottom end of their fleet range at around 302 aircraft, which is 51 aircraft lower than the anticipated fleet size for year end 2021 which was reported to the market prior to Covid-19.

In line with IATA projections, easyJet believes that the levels of market demand seen in 2019 are not likely to be reached again until 2023.

To affect the restructure of the business the airline says it will shortly launch an employee consultation process on proposals to reduce staff numbers by up to 30%, reflecting the smaller fleet.

https://www.easyjet.com

THIS IS THE FULL EASYJET SCHEDULE FORWARD FROM 15 JUNE.

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