EasyJet Plots Path to Next Summer After Pandemic Ruins 2020
- U.K. carrier seeking government support during lengthy slump
- Flights operating at about a quarter of capacity this quarter
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EasyJet Plc gave up hope of a winter comeback for European air travel, shifting the focus to liquidity and the prospects for next year, starting with Easter in early April.
The U.K. discount airline entered 2020 with one of the strongest balance sheets in the industry, and said Thursday that it has about 2.3 billion pounds ($3 billion) in cash to survive an extensive pandemic-driven slump. Still, the carrier said it will continue to evaluate ways to raise cash, and called on the state for further support.