London: EasyJet plc said it lost as much as 845 million pounds ($1.1 billion) in the year through September after the pandemic wreaked havoc with the budget carrier's summer schedule. The UK company scrapped its dividend and expects to fly about a quarter of its typical capacity during the final three months of 2020, according to a statement.
The airline is reviewing its liquidity position and called on the state to step in with additional aid for the industry. "Aviation continues to face the most severe threat in its history and the UK government urgently needs to step up with a bespoke package of measures to ensure airlines are able to support economic recovery when it comes," EasyJet said.
Like other airlines, EasyJet has been hard hit by the coronavirus. A resurgence in cases across Europe has resulted in renewed travel restrictions that have quashed any hopes of a recovery in demand.
EasyJet has raised over 2.4 billion pounds in cash since the start of the pandemic, including 419 million pounds from an equity increase and 608 million pounds by selling and leasing back planes.