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EasyJet expects losses of up to $ 1 billion in first half

British airline EasyJet announced Wednesday that it expects pre-tax losses of between 690 and 730 million pounds ($ 950 and $ 1 billion) for the first half of the year ending in March, while planning to fly at 20% of its capacity in the coming months.

Between January and March, due to lockdowns and travel restrictions due to the pandemic, the airline flew at only 9% of the capacity it had in 2019.

Its turnover was divided by ten, to 235 million pounds (324 million dollars) in the first half of its fiscal year, according to a statement.

The company carried 4.1 million passengers, compared to 38.6 million the previous year.

However, the group expects to increase its capacity from the end of May, with the expected lifting of travel restrictions in the UK.

“We welcome the UK government’s confirmation that international travel is on track to reopen in mid-May, as planned,” said Johan Lundgren, the managing director.

According to him, most European countries are planning to do the same thanks to vaccination campaigns and he assured that the company has the flexibility to rapidly increase the number of flights to meet demand.

Easyjet entered the red for the first time in the 2019-2020 financial year (ended in September) due to the covid-19 pandemic, with a loss of more than one billion pounds (1.38 billion dollars) in the year as a whole fiscal.

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