EasyJet Foresees Recovery from the End of May

Budget airline EasyJet expects to be able to fly more from the end of May. Then the British are allowed to go abroad again, and the price fighter also sees that other countries want to make flying possible on a larger scale.

 

CEO Johan Lundgren foresees that all of Europe will be open again at the beginning of the summer.

EasyJet expects to transport up to a fifth of the passengers who flew with the airline in the same period in 2019 in the quarter from April to June. That is expected to start low, but it should already be more than a quarter by June, Lundgren indicates. “It is difficult to make very concrete predictions for this now because people currently only book shortly before departure.”

Where easyJet can fly to from May, according to the CEO, lies up to the British government. “But I see no reason why most of Europe cannot be green again in the summer.” Lundgren also advocates not requiring mandatory testing for travellers from “green” countries. “The costs are considerable and provide an extra barrier for some travellers.”

In the first three months of this year, EasyJet still transported 9 percent of the number of travellers in 2019 through strict lockdowns. Over the entire winter season, which started in October, EasyJet came in at 14 percent.

The British company has been saving costs since the start of the corona crisis, which went faster than expected. EasyJet cut its costs by more than half, limiting its gross loss in the first half of its broken fiscal year to between £ 690 million and £ 730 million. That is between 795 million and 841 million euros.

EasyJet still has 2.9 billion pounds in money and thinks it can profit if more flights can be flown again. Due to the cost savings, the company expects to be able to do so quickly and profitably.