Easyjet raises £300m from plane sales in bid to boost balance sheet October 27, 2020 Easyjet today agreed to sell nine more planes for £305.7m as the low-cost carrier seeks to relieve pressure on its balance sheet. Wealth management firm Wilmington Trust Services will buy five Airbus 320s, and aircraft leasing firm Sky High 112 will buy the remaining four 320s. Earlier this month Easyjet was reported to have told [...]
Easyjet on track for first ever full year loss October 8, 2020 Easyjet announced this morning it is in line for a pre-tax loss of up to £845m for the full year, the first time the budget carrier will have reported an annual loss. In a trading update, the carrier said passenger numbers for the full year had halved, falling to 48m as a result of the [...]
Easyjet avoids compulsory redundancies as pilots opt for part-time work September 25, 2020 Easyjet has avoided making any compulsory redundancies to its pilots despite plans earlier this summer to cut up to a third of jobs. The airline has been engaged in consultation with the British Airline Pilot Association (Balpa) since the coronavirus pandemic hit the UK in March regarding job cuts. Despite rejecting several proposals, a breakthrough [...]
Easyjet to reduce flying capacity amid quarantine chaos September 8, 2020 Budget carrier Easyjet today said that it would reduce flying capacity for the fourth quarter due to changes to the UK’s quarantine regime. In a statement, the airline said that the “constantly evolving” restrictions, including yesterday’s decision to add seven Greek islands to the “red list”, was “negatively affecting” customer confidence. As a result, Easyjet [...]
Easyjet offers pilots ‘seasonal’ contracts to stave off job cuts August 23, 2020 Pilots at budget carrier Easyjet have been offered six-month long “seasonal” contracts in a bid to stave off sweeping job cuts amid the downturn in air travel. Up to 727 pilots’ jobs are at risk at the low-cost airline, which has seen passenger demand collapse due to the coronavirus pandemic. Under the new offer, pilots [...]
Easyjet shares sink on France quarantine despite £203m aircraft sale August 14, 2020 Shares in low cost carrier Easyjet fell 5.5 per cent this morning as the government announced travellers from France would have to quarantine on return to the UK. The news came as the airline siad that it had completed the sale and leaseback of 23 aircraft, raising an extra £608m to bolster its liquidity amid [...]
Easyjet chief: We will keep flying to quarantined countries if there is demand August 4, 2020 Easyjet’s chief executive Johan Lundgren has said that the airline will not stop flying to destinations if the government chooses to reimpose quarantine restrictions on them while demand to travel to them remains. Speaking to CityAM, he said: “People, as we have seen with Portugal for example, are willing to take the sacrifice of [...]
Easyjet to expand flight schedule due to demand for holidays August 4, 2020 Budget airline Easyjet is preparing to expand its flight schedule over the summer to cater for higher than expected demand. The company’s share price soared more than 10 per cent this morning after it said it will fly at around 40 per cent of capacity over the summer following “better than expected” bookings. Previously it [...]
Ryanair and Easyjet to continue flying to Spain despite quarantine July 27, 2020 Neither Ryanair or Easyjet will cut their number of flights to Spain despite the government reimposing mandatory quarantine measures on people travelling from the country, the low-cost carriers confirmed today. In a statement, the latter said: “We plan to operate our full schedule in the coming days. “Customers who no longer wish to travel can [...]
Third of Easyjet pilot roles in UK at risk of redundancy June 30, 2020 Up to a third of Easyjet’s pilot roles are at risk of redundancy as the low-budget carrier seeks to cut costs after the coronavirus pandemic. The airline revealed today that it had begun consultation with pilots’ union Balpa over the plan to reduce its staff headcount by 30 per cent. The union said the cuts, [...]