EasyJet reported its final results for the year ending 30 September 2020 today, revealing a massive £1.2 (€1.34) billion loss. This is on the back of a 53 percent drop in revenue. Nevertheless, the airline’s chief executive, Johan Lundgren, struck a positive tone: “EasyJet has not only withstood the impact of the pandemic but now has an unparalleled foundation upon which to emerge strongly from the crisis. Our unmatched short-haul network and trusted brand will see customers choose easyJet when returning to the skies.”
Despite the heavy losses, “after raising more than £3.1 billion to date, easyJet is strongly positioned to be a leader in the recovery of the European airline industry”. This recovery is still a way off though – easyJet expects to fly no more than around 20 percent of planned capacity in Q1 of the 2021 fiscal year.
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