EasyJet racks up first ever loss after Covid-19 pandemic slams demand

2020/10 08 21:10

is about to document its first-ever annual loss and is reviewing methods to boost extra funds after the pandemic wreaked havoc with the price range service’s summer time schedule. The UK agency misplaced as a lot as $1.1 billion within the yr via September, in accordance with a press release on Thursday.

The airline has about £2.three billion in money to outlive an intensive hunch and known as on the state for additional assist.

“Aviation continues to face essentially the most extreme menace in its historical past and the UK authorities urgently nee­ds to step up with a bespoke package deal of measures to make sure airways are in a position to assist financial restoration when it comes,” stated. The agency is in talks with the federal government for extra loans or different financing, Sky reported earlier. Like different airways, has been laborious hit by the

A resurgence in instances throughout Europe has resulted in renewed journey restrictions which have quashed any hopes of a restoration in demand. EasyJet has raised over £2.four billion in money for the reason that begin of the pandemic, together with £419 million from an fairness improve and £608 million by promoting and leasing again planes.


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