easyJet's revenue drops 90% to £240 million

Thursday, 20. May 2021 08:09

easyJet plc announced on Thursday that its total revenue for the first half of the year stood at £240 million declining 89.9% when compared to the same period last year when it was £2.38 billion.

The British low-cost carrier reported that for the same period loss before tax went from £353 million last year to £645 million this year, a change of 82.7%. Meanwhile, passenger numbers were down 89.4% per annum dropping to 4.1 million for the six months ending on March 2021.

Johan Lundgren, easyJet Chief Executive Officer, stated: "Over the past six months, we have successfully undertaken a major restructuring and cost reduction process alongside maintaining an investment-grade balance sheet with significant liquidity and managing our cash burn better than expectations. We have the ability to flex up quickly to operate 90% of our current fleet over the peak summer period to match demand."

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Author:
Baha Breaking News (BBN) / OL