© easyJet
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EasyJet, which announced Thursday a loss in decline in the first half of its fiscal year, says it can survive nine months of total business interruption thanks to taken measures to respond to the crisis triggered by the coronavirus pandemic, after which it expects a slow market recovery air transport.
The British low-cost airline said it would start to reduce its fleet, believing that it would not return to its pre-crisis level before 2022. ” We have been able to adapt to reduced demand for the coming years, then we will have the flexibility to develop as demand rises“Chief executive Johan Lundgren told reporters, adding that the low cost treasury would remain positive even if the flight disruption lasted nine months – costing it £ 3 billion in cash.
EasyJet estimates that it can obtain a total about 3.3 billion pounds to hold on during this downtime. It has already secured £ 2 billion in funding, including a £ 600 million loan from the Treasury and the Bank of England as part of the Coronavirus Emergency Support Fund. In addition, it has in particular initiated discussions with a view to ” lease-back“, A sale followed by a resumption in rental, of a part of its planes, which could bring him 550 million pounds. Among other things, it postponed the delivery of 24 Airbus single-aisle aircraft, and decided not to renew certain leases. It also plans to sell six devices.
But its founder and first shareholder, Stelios Haji-Ioannou, wants it to go even further by canceling an order for 107 Airbus worth 4.5 billion pounds, which management refuses. Thursday, Stelios Haji-Ioannou published a press release in which he said he wanted to demand the eviction of Johan Lundgren and the president, John Barton, and considers that the low cost should not pay planes to Airbus when it is forced to ” manage a car park“.
@Air Journal
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https://www.air-journal.fr/2020-04-18-easyjet-affirme-pouvoir-survivre-a-neuf-mois-de-suspension-des-vols-5219609.html
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