EasyJet records £318 million pre-tax loss in the third quarter
EasyJet (LON:EZJ) will increase the number of flights operating to 60% of the amount seen before the pandemic.
Budget airlines run 1,400 flights per day between July and September.
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The UK company also confirmed in its transaction renewal that it caused a loss of £318 million before tax in the third quarter. Easyjet has confirmed that this number is in line with its own expectations.
Compared to the same period in 2019, EasyJet operated 17% of the flight level carrying 3M passengers.
That revenue came from £222 million, up from 7.2 MA the previous year.
EasyJet customers are waiting to book flights longer than the previous year, as 49% of summer flights are booked compared to 65% in 2019.
Following the company’s trading renewal, EasyJet shares rose 1.9% during the morning session.
EasteJet CEO Johan Lundgren recently commented on how his company has dealt with the ongoing challenges posed by the pandemic. . ”
“The UK had some of the strictest travel restrictions,” he said. “We know people want to fly. They know they want to travel. It’s all about rewinding restrictions.”
“Airlines are used to thinking on their own feet, and EasyJet has certainly been busy finding ways to generate as much revenue as possible during the pandemic,” says AJ Bell Investment Director Director.
“Races to reduce business costs have shifted attention to customers in continental Europe who have the opportunity to make more money than in the UK.”
“Many companies of EasyJet size cannot adapt so quickly, so they have to give their companies credit to be able to shift many moving parts.”
