Aviation: Easyjet’s revenues collapsed at the end of 2020

PostedJanuary 28, 2021 at 8:49 PM

The turnover of the British low-cost company plunged 88% between October and December 2020 due to sluggish air traffic in the midst of the pandemic.

The British company is particularly affected by the travel restrictions linked to Covid-19.

REUTERS

The pandemic had a huge impact on Easyjet between October and December 2020. The British low-cost company on Thursday announced a turnover down 88%, to 165 million pounds sterling (about 200 million francs). It has only used 18% of its capacity and expects this rate to fall further to around 10%, between January and March 2021, due to travel restrictions.

The company went on a diet to cope with these new constraints. Its costs have thus been reduced by 52%, excluding fuel costs, in particular thanks to lower airport, maintenance and personnel costs. “Our performance during this period has been in line with our expectations, despite the entry into force of more stringent restrictions,” commented Johan Lundgren, boss of Easyjet, on Thursday.

Despite everything, the company remains confident in the future and in its ability to rebound. “We have taken the right steps to reduce our size and costs,” said the boss. According to him, the main assets of his company are the loyalty of his customers, his network of destinations and a good value for money.

(comm/reg)

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