EasyJet reported it’s final results for the year ending 30 September 2020 today, revealing a massive £1.2 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.”
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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.
This chart shows total loss before tax of easyJet plc in the year ending 30 September 2020.
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