EasyJet has enough liquidity to withstand a lengthy grounding of its fleet and could restart flying with as little as two weeks’ notice once the COVID-19 crisis has eased, according to a trading update from the airline.
UK-based ULCC easyJet has deferred deliveries of 24 Airbus A320neo-series aircraft as it seeks to maximize its liquidity in the face of the COVID-19 pandemic.
The UK government will spend up to £75 million ($93 million) to repatriate citizens with the help of easyJet, Jet2.com, Titan Airways and Virgin Atlantic.
UK LCC easyJet has grounded its entire fleet in response to the COVID-19 pandemic, while Irish LCC Ryanair continues to operate just 10% of its aircraft.
Having originally planned to operate more than 12,000 flights this week, easyJet has now fully grounded its entire fleet of aircraft amid the COVID-19 crisis.
Ryanair does not expect to operate any flights through April or May while fellow European ULCCs Wizz Air and easyJet have grounded the majority of their fleet.
Air France-KLM, EasyJet, International Airlines Group and Ryanair all said they will cut most of their flights in the coming days as travel restrictions push demand for air transport close to zero.
UK LCC EasyJet CEO Johan Lundgren expects to see more airline bankruptcies as carriers continue to deal with falling demand and cashflow as a result of the continuing COVID-19 outbreak.
UK LCC easyJet is taking steps to cut back on discretionary costs in a bid to offset the expected impact of the COVID-19 virus on operations as demand slows.
EasyJet founder and shareholder Stelios Haji-Ioannou plans to lodge a token vote against the re-election of easyJet chairman John Barton, putting pressure on management to pace growth and maximize shareholder returns.
UK budget carrier easyJet said it expected its revenue per seat to increase more than previously expected in the first half of fiscal 2020, based on ticket sales for the period ahead of last year’s level.
Confusing local terminology contributed to a pair of identical incidents in which easyJet crews used thrust settings that were too low because their departure performance data calculations used the wrong runway takeoff points, a UK Air Accidents Investigation Branch (AAIB) report said. The incidents, which highlight the larger issue of takeoff-performance error risks, has led to changes at the airport.
Etihad Airways has joined UK LCC easyJet’s connecting program, enabling passengers to buy tickets for travel to destinations in Europe, Africa, the UAE and the Azores through the Worldwide by easyJet website.
easyJet has pledged to become the first major carrier to operate net-zero carbon flights at the same time as signing an agreement with Airbus to research opportunities and challenges surrounding hybrid and electric aircraft.
Vienna Airport is on course for another record year of passenger traffic, although joint chief executive and chief operating officer Julian Jäger expects the growth to level out as a result of further consolidation in the European market.
This week: easyJet and Jet2 confirm Thomas Cook slot purchases; Transavia to open Montpellier base; American and Qantas implement JV; passenger demand remains sluggish – IATA; and Cebu Pacific firms A330-900 order.
This week: Frontier to add first international route from Routes Americas host; LATAM to replace long-standing chief executive; Qatar to add Angola service; easyJet readies for record day and more.
Proposed green taxes on airlines will have no positive impact on the industry’s sustainability, senior figures from some of the top carriers have agreed.
