Home » The Covid effect hits Easyjet: towards the maxi-red in the budget, over a billion pounds

The Covid effect hits Easyjet: towards the maxi-red in the budget, over a billion pounds

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ROME. The losses of Easyjet for the financial year that ended on September 30th and which will be communicated to the markets next Tuesday will be over 1 billion pounds (1.1 billion euros). 12 months of an airline market upset by travel restrictions across Europe, which led the company to heavily cut flight numbers.

In a preliminary announcement made in October, the group anticipated that pre-tax losses for the 12 months to September should be between 1.13 and 1.17 billion pounds, slightly lower than analysts’ forecasts. Before the spread of the Omicron variant, CEO Johan Lundgren pointed out how the increase in demand across Europe and the return of bookings to winter destinations such as Egypt and Turkey have allowed flight capacity to be increased to almost 60%. pre-pandemic levels. Lundgren had anticipated “strong bookings, particularly for the Canary Islands, where we have increased our capacity to around 140 per cent of the levels of the full year 2019”. But investors are now wondering whether plans to increase capacity to 70% pre-pandemic levels will move forward in light of fears over the new Covid variant and the return of UK travel restrictions.

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