By issuing new shares and selling and leaseback deals, Easyjet aims to improve liquidity from approximately £ 2,4 billion to £ XNUMX billion.

The British low-cost airline Easyjet posted a loss of 353 million pounds sterling in the first half of the current financial year. The reporting date is March 31, 2020, which means that the reported figures were achieved before the significant effects of the corona pandemic.

Sales increased by 2020 percent to 1,6 billion pounds sterling by the end of March 2,382. With reference to the unclear situation regarding the corona pandemic, the Management Board did not provide a forecast for the full year. A capital increase will also be carried out. Easyjet is also issuing new ordinary shares of 27 2/7 pence each. A total of just under 15 percent of the existing capital is being offered. With this measure, the orange low-cost airline wants to raise around 400 to 500 million pounds sterling on the financial market. The funds are to be used to support the group. On July 14, 2020, the Annual General Meeting should decide on this step.

Easyjet also wants to improve its financial situation through sale and leaseback deals. In total, Easyjet wants to turn 15 machines into cash by means of sale and leaseback. These are two A321neo, three A320neo, three A320ceo and seven A319ceo. For this purpose, binding contracts have already been concluded with SMBC Aviation, JP Lease and Aero Capital Solutions. The carrier puts the volume at 301 million pounds sterling. In total, the deals should flush up to 560 million pounds sterling into the cash register. Negotiations are currently being held for a further eight Airbus A320neo, which should also lead to a sale or sale-and-leaseback.

As of March 31, 2020, Easyjet's fleet consisted of 337 aircraft. Of these, 230 were in unencumbered company property. That corresponded to around 69 percent of the group-wide fleet. Various financing measures have reduced the proportion of unloaded Airbus aircraft to 50 percent. By combining all measures, the group wants to increase liquidity from around 2,4 billion pounds sterling to three billion pounds sterling.