EasyJet reports ‘better than expected’ half-year loss

By Lisa James
Home » EasyJet reports ‘better than expected’ half-year loss

EasyJet Chief Executive Johan Lundgren has described the company’s £645 million half-year loss as ‘better than expected’, repeating his call on the UK Government to open up more green-list destinations.

The £645 million pre-tax loss compares to a pre-tax loss of £353 million last year.

Results for the six months to 31 March 2021 show passenger numbers were down 89.4% to 4.1 million, compared to 38.6 million the previous year.

Capacity decreased by 85.0% to 6.4 million seats, representing 14% of H1 2019 capacity levels and compared to 42.7 million seats in the same period last year.

Total revenue decreased by 90% to £240 million (H1 2020: £2,382 million) with passenger revenue decreasing by 91% to £170 million and ancillary revenue decreasing by 87% to £70 million.

Mr Lundgren told BBC Radio 4’ Today programme the results were ‘better than expected’ but added: “It’s clearly a significant loss.”

In a half-year trading update, Mr Lundgren added: “With leisure travel taking off in the UK again earlier this week where we are the largest operator to green list countries and with so many European governments easing restrictions to open up travel again, we are ready to significantly ramp up our flying for the summer with a view to maximising the opportunities we see in Europe. 

“We have the ability to flex up quickly to operate 90% of our current fleet over the peak summer period to match demand.

“We know there is pent-up demand – we saw this again when green list countries were released and added more than 105,000 seats – and so we look forward to being able to help many more people to travel this summer.”

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