easyJet remains in red for financial 2021 | News

easyJet remains in red for financial 2021 | News


easyJet has recorded a loss before tax of £1.1 billion for the year to September as the Covid-19 pandemic continues to take a toll on the aviation sector.

Losses grew by more than a third when compared to the figure of -£835 million reported last year.

The carrier welcomed just over 20 million passengers for the year, down by 57 per cent from the 48 million seen in the prior year.

Total revenue was £1.5 billion, down by half on the figure of £3 billion recorded in 2020.

Johan Lundgren, easyJet chief executive, said: “easyJet is moving through the pandemic with renewed strength having transformed the business by optimising our network and flexibility, delivering significant cost savings while also step-changing ancillary revenue.

“These initiatives alongside our strong, investment grade, balance sheet provide easyJet with renewed strength to manage any further Covid-19 related travel disruptions, as well as a platform to fast track our growth and deliver strong shareholder returns.

“With this platform, we have the ambition to beat our targets set earlier this year.”

He added: “With ambitious plans for profitable growth we are expanding our leadership positions at key bases such as Gatwick and Milan with additional slots and aircraft this year and have 118 aircraft on order with a further 59 purchase options and rights confirmed to further build on this in the years to come.

“In summary, we remain mindful that many uncertainties remain as we navigate the winter, but we see a unique opportunity for easyJet to win customers and take market share from rivals in this period.”





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