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EasyJet eases financial pressure as Christmas hit looms

Written by on 6 November 2020

EasyJet has announced a boost to its coronavirus-hit finances while revealing expectations of further cuts to services in the current Christmas quarter.

The low-cost carrier said renewed COVID-19 lockdowns in key markets of England, France and Germany had forced it to scale back expectations for flight schedules to 20% from 25% until the end of the year.

But the company insisted that should it witness a shift in demand, it could act to meet any surge in bookings.

The airline, whose finances are under pressure due to the virus crisis disruption in the year to date, said additional sale and leaseback deals of its aircraft had raised GBP131m in cash.

It said the latest agreements, covering 11 planes, meant that it now only fully-owned 41% of its fleet.