easyJet's revenue plummets 88% to £165M

Thursday, 28. January 2021 08:13

British low-cost carrier easyJet plc said on Thursday its revenue in the first quarter of fiscal 2021 plunged 88% compared to the previous year to land at £165 million.

The airline added its number of passengers slid 87% to 2.9 million and its capacity dropped by 82% in the quarter ending December 31 due to the COVID-19 travel restrictions.

"Our performance in the period was in line with management expectations, despite more stringent restrictions coming into place. We have taken the right actions to emerge leaner with a reduced cost base and the retrenchment of legacy carriers at key airports will provide additional opportunities for easyJet," CEO Johan Lundgren noted.

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Author:
Baha Breaking News (BBN) / NP