Easyjet boss: We can ‘take advantage’ of European rivals who got state bailouts January 28, 2021 Easyjet’s chief executive has said not getting government bailouts like continental rivals during Covid-19 could benefit the budget carrier as it seeks to grow in Europe. Unlike in many European countries, the UK government has not propped up the country’s airlines despite multiple calls to do so. But Johan Lundgren said the restrictions imposed on [...]
Easyjet revenue collapses 90 per cent amid newest restrictions January 28, 2021 Easyjet today saw total revenue shrink nearly 90 per cent for the first quarter as the coronavirus pandemic showed no signs of abating. The budget carrier started the new financial year as it finished the last one, with revenue slumping to a mere £165m for the three month period. The plunge was announced a day [...]
Airline, hotel and travel shares slump on summer holiday warnings and UK quarantine rumours January 22, 2021 Shares in airline, hotel and travel companies have sunk today, after UK Government ministers poured cold water on summer holidays being back to normal this year.
Easyjet cancels all holidays until late March January 15, 2021 Easyjet has cancelled all holidays until the end of March as a result of international travel restrictions brought about by the latest lockdown. The airline is in the process of cancelling holidays booked up to and including March 24 and is contacting affected passengers to offer them a range of options, including future holiday credit [...]
Easyjet secures $2bn loan as coronavirus pain goes on January 11, 2021 Easyjet has today secured a new $1.9bn (£1.4bn) five year loan as it takes further steps to bolster its finances amid the coronavirus pandemic. In a statement, the carrier said that the loan would “significantly extend and improve easyJet’s debt maturity profile and strengthen easyJet’s balance sheet by increasing the level of available liquidity”. The [...]
Budget carrier Easyjet posts first ever full year loss November 17, 2020 Easyjet today fell to the first loss in its history as the full impact of the coronavirus pandemic was revealed. The low-budget carrier posted a reported loss before tax of £1.2bn for the year ending 30 September after the worst crisis in aviation history. Passenger numbers halved over the course of the year, falling from [...]
Weekly outlook, 16-20 November: will FTSE rally continue? November 15, 2020 After the best week for the FTSE 100 since April, investors will be keen to see if markets can keep the rally going, with a slew of heavyweights set to report. Last Monday Pfizer’s announcement that its vaccine was 90 per cent effective in treating the coronavirus disease sent stocks soaring. Traders cheered the news, [...]
Airline stocks soar on Pfizer Covid-19 vaccine breakthrough November 9, 2020 Airline stocks soared this morning after US pharmaceuticals giant Pfizer reported that early studies suggested its Covid-19 vaccine is 90 per cent effective. Pfizer and its German partner BioNTech are the first firms to show successful data from a large-scale clinical trial of a coronavirus vaccine. The companies said they have so far found no [...]
European lockdowns force EasyJet to scale back capacity even further November 6, 2020 EasyJet said this morning that the new lockdowns in England, Germany and France have forced the British airline to scale back its already reduced flying schedule, and it would now fly no more than 20% of capacity until at least the end of this year. The airline, whose finances are under pressure due to the [...]
Easyjet denies it is in talks with German authorities over state aid November 5, 2020 Easyjet has hit back at reports that it has approached German authorities for emergency funding to help it through the coronavirus pandemic. German business paper Wirtschaftswoche reported that chief exec Johan Lundgren had been involved in talks concerning a sum in the region of hundreds of millions of euros. But representatives for the low-cost carrier [...]