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EasyJet suffers £133m from the upheaval in summer travel

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EasyJet Plc said travel disruptions due to staff shortages, rising demand and airport capacity limitations resulted in a charge of £133 million in the fiscal third quarter.

The British low-cost airline still operated 95 percent of its scheduled schedule in the three months to June, despite the upheaval, according to a statement on Tuesday. The company expects fourth-quarter capacity to be about 90 percent of the same period in 2019, but said it will continue to refine the schedule as needed.

“We have taken action to build the additional resilience needed this summer and operations have now returned to normal,” said Chief Executive Officer Johan Lundgren.

EasyJet has been one of the European airline industries hardest hit by the workforce crisis after the airline cut its workforce at the height of the coronavirus pandemic and was unable to hire staff quickly enough to keep up with the recovery. London Gatwick and Amsterdam Schiphol airports, the two largest bases, have limited flights to help cope.

Third-quarter revenue came in just above analyst estimates at £1.76 billion, while total pre-tax loss was £114 million.

EasyJet shares have lost almost a third of their value this year, valuing the company at £2.8 billion.

https://www.independent.ie/business/easyjet-takes-133m-hit-on-summer-travel-upheaval-41867351.html EasyJet suffers £133m from the upheaval in summer travel

Fry Electronics Team

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