easyJet PLC Capacity Update (2796Y)
08 Settembre 2020 - 8:00AM
UK Regulatory
TIDMEZJ
RNS Number : 2796Y
easyJet PLC
08 September 2020
8 September 2020
easyJet plc
('easyJet')
easyJet Statement - Capacity Update
easyJet has today announced that, due to the constantly evolving
government restrictions across Europe and quarantine measures in
the UK, including yesterday's announcements that removed seven
Greek islands from the exemption list, customer confidence to make
travel plans has been negatively affected.
In response to this reduced demand for travel, based on current
travel restrictions and quarantines in the markets where we
operate, easyJet now expects to fly slightly less than the 40% of
planned capacity for Q4 2020 which was highlighted at our Q3
trading update. This is the result of continued schedule thinning
as we continue to focus on profitable flying.
Given the many changes to government restrictions since our Q3
update, the lack of visibility and the continued level of
uncertainty, it would not be appropriate to maintain any forward
looking financial guidance, for FY'20 and FY'21, at this time.
easyJet will continue to focus on delivering a flying schedule
that drives a positive contribution while maintaining focus on
minimising cash burn through our cost out programme that will drive
down costs in all areas of the business. easyJet will also continue
to review its liquidity position on a regular basis to assess any
further funding opportunities.
Johan Lundgren, CEO of easyJet, said:
"As we said at our Q3 trading update, we are closely monitoring
customer behaviour and amending flying to ensure our schedule is
aligned with demand. Following the imposition of additional
quarantine restrictions to seven Greek Islands and the continued
uncertainty this brings for customers, demand is now likely to be
further impacted and therefore lower than previously anticipated.
We now expect to fly slightly less than 40% of our planned schedule
over the current quarter. We will continue to take a prudent and
conservative approach to capacity, as we have done during this
period.
"We know our customers are as frustrated as we are with the
unpredictable travel and quarantine restrictions.
"We called on the Government to opt for a targeted, regionalised
and more predictable and structured system of quarantine many weeks
ago so customers could make travel plans with confidence.
"It is difficult to overstate the impact that the pandemic and
associated government policies has had on the whole industry. We
again call on the Government to provide sector specific support for
aviation which needs to take the form of a broad package of
measures including the removal of APD for at least 12 months, the
alleviation of ATC charges along with continuation of the slot rule
waiver. These steps will support the retention of skills in the
sector - all of which would support jobs and promote
connectivity."
For further details please contact easyJet plc :
Institutional investors and analysts:
Michael Barker Investor Relations +44 (0) 7985 890 939
Holly Grainger Investor Relations +44 (0) 7583 101 913
Media:
Anna Knowles Corporate Communications +44 (0) 7985 873 313
Edward Simpkins Finsbury +44 (0) 7947 740 551 / (0) 207 251 3801
Dorothy Burwell Finsbury +44 (0) 7733 294 930 / (0) 207 251 3801
A copy of this Trading Statement is available at
http://corporate.easyjet.com/investors
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END
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