EasyJet (LON: EZJ) says that for the remainder of 2020, only 20% of the planned battles will be carried out.
Budget-Aviation made the announcement as the UK concluded a second lockdown and travel restrictions urged people not to take leave within the UK and abroad until December 2nd.
“EasyJet is hoping to fly under 20% of its planned capacity for the first quarter,” the group said.
“We continue to focus on cash-generating flights throughout the winter season to minimize losses in the first half and maintain the flexibility to quickly back up capacity when demand returns are seen.”
Last week, EasyJet said it would sell more than nine planes for £355.7 million since the group felt a significant financial burden.
In the year ending September, the group said it expects losses between £815 million and £845 million.
In its final financial statements, EasyJet warned that the figures would not return to normal for some time, calling on the government to support the aviation sector in the face of “the most serious threat in history.”
“We’re looking forward to seeing you in the process of exploring the world,” said Johann Landglen, the group’s chief executive. “We expect to fly 25% of our planned capacity for Q1 2021 based on current travel restrictions, but we maintain the flexibility to increase capacity as soon as summer returns and early summer booking levels are in line with the previous year.
“Aviation continues to face the most serious threat in its history, and the UK government needs to urgently raise its bespoke countermeasure package to help airlines help the economy recover.
“EasyJet has been in this crisis in a very strong position thanks to its strong balance sheet and consistent profitability. This year marks the first time in EasyJet’s history of losing a year,” he added.
EasyJet stock (LON: EZJ) is trading -4.17% at 524,20 (0939GMT).
