{"id":78,"date":"2020-11-06T14:47:57","date_gmt":"2020-11-06T14:47:57","guid":{"rendered":"https:\/\/amnewsworld.com\/?p=78"},"modified":"2020-11-06T14:47:57","modified_gmt":"2020-11-06T14:47:57","slug":"coronavirus-easyjet-eases-financial-pressure-as-lockdowns-force-flight-cuts","status":"publish","type":"post","link":"https:\/\/www.amnewsworld.com\/fi\/coronavirus-easyjet-eases-financial-pressure-as-lockdowns-force-flight-cuts\/","title":{"rendered":"Coronavirus: EasyJet eases financial pressure as lockdowns force flight cuts"},"content":{"rendered":"

The airline sells and leases back more of its aircraft as it scrambles for cash to help it ride out the coronavirus turbulence.<\/strong><\/p>\n

EasyJet has announced a boost to its coronavirus-hit finances – while revealing expectations of further cuts to services in the current Christmas quarter.<\/p>\n

The low-cost carrier said renewed\u00a0COVID-19<\/strong><\/a> lockdowns in key markets of England, France and Germany had forced it to scale back expectations for flight schedules to 20% from 25% until the end of the year.<\/p>\n

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But the company insisted that should it witness a shift in demand, it could act to meet any surge in bookings.<\/p>\n

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Image:<\/span>Ryanair is planning to run 40% of its flight capacity during the winter season<\/span><\/figcaption><\/figure>\n<\/div>\n
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\"Hospitality<\/picture><\/div>\n
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Hospitality and aviation suffer worst jobs hit<\/h3>\n

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“We remain focused on cash generative flying over the winter season in order to minimize losses during the first half and retain the flexibility to ramp capacity back up quickly when we see demand return,” easyJet said.<\/p>\n

The airline, whose finances are under pressure due to the virus crisis disruption in the year to date, said additional sale and leaseback deals of its aircraft had raised \u00a3131m in cash – taking the total to date above \u00a31bn.<\/p>\n

It said the latest deal, covering 11 planes, meant that it now only fully-owned 41% of its fleet and a buoyant market meant that more such deals could be done.<\/p>\n

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