As a result of the coronavirus crisis, the aviation business collapsed like a house of cards. The low-cost airline giant Easyjet was also hit hard: For the financial year, the pre-tax loss, adjusted for special items, was the equivalent of 895 to 928 million euros. The company announced today that it is the first time that Easyjet has closed a financial year with a loss that has it all. 

The outlook for the new financial year remains uncertain, Easyjet boss Johan Lundgren does not want to make a forecast. The situation around Corona is extremely confusing. In addition, the weak ticket demand due to the pandemic is making the situation even more difficult. In the current quarter until the end of December, the company is therefore only likely to offer around a quarter of its usual flight program.

In view of the tense financial situation, a profit distribution to the shareholders for the past financial year is becoming increasingly unlikely - even the Board of Directors advises against it. In addition to cash reserves of over 2,5 billion euros, there is a large mountain of debt: According to the company's own information, net debt rose to 1,2 billion euros.