The British low-cost airline Easyjet put the financial figures for the first half of the financial year 2021 on the table on Wednesday. CEO Johan Lundgren assumes that a pre-tax loss of £ 690 to 730 million was made. The period ended on March 31, 2021.

“Easyjet maintained a disciplined approach to the flight schedule during the first half of our fiscal year, which resulted in better than expected loss and cash burn in the first half of the year. We still have access to sufficient liquidity, which, in addition to Easyjet's extensive cost-cutting program, also brings advantages in terms of costs and efficiency. All of this positions us well to take a leading role in the recovery of travel, ”said CEO Johan Lundgren.

Easyjet explains that it has remained below the forecast and that the cost-cutting programs have borne fruit, but they are still dissatisfied with the result. Hopes are now that the widespread progress in vaccination in the UK will lead to a swift resumption of tourist air travel. Easyjet wants to benefit from this on a large scale.

Carrier hopes the market will recover quickly

As of March 31, 2021, Easyjet has approximately £ 2,9 billion of liquidity access and has raised over £ 5,5 billion in liquid funds since the pandemic began. The airline sees itself well positioned to benefit from the recovery in travel once restrictions are eased across the network.

“We welcome the confirmation from the UK government that the resumption of international travel is still planned for mid-May. Easyjet was founded to make travel accessible to everyone. So we continue to work with the government to ensure that the cost of the tests required is reduced and that there is no risk of turning back the clock and making travel too costly for some, ”said Lundgren. “We are still closely monitoring the situation across Europe. With vaccination programs gaining traction, most countries plan to resume large-scale flight operations in May. We have the operational flexibility to rapidly increase operations and add destinations to meet demand. Easyjet is ready to resume operations, we are prepared for the rise and look forward to bringing people back together with their families or taking them on leisure and business trips. We are thus well positioned for the upswing this summer and beyond ”.