EasyJet has revealed its 2020 full year results, reporting a £1.27 billion loss. The group's pre-tax loss for the year to September 30 comes after passenger numbers halved to 48.1 million as the pandemic crippled the aviation industry. Photo: Getty Images Thousands of jobs could go. He added the firm is braced for underlying pre-tax losses of … EasyJet has today revealed that the coronavirus crisis has seen it crash to an annual loss of £1.27billion - the first in its 25-year history - but the prospect of a vaccine has led to a spike in sales over the past fortnight.. EasyJet slid to a £1.27bn ($1.68bn) loss in the year to October, marking the first annual losses in the company’s history.It had made a £430m profit a year earlier, but passenger numbers halved in the wake of the pandemic. I took a look at the results. Hopes of there being a vaccine as early a this year have however handed airlines some big gains over the past week. In the year ending 30 September 2020, the carrier says it has focused on cash generative flying and successfully cut operating costs and capex in order to reduce cash burn.The airline has also raised over £2.4 billion in liquidity and retained strong customer satisfaction scores. EasyJet said it expected to operate at 25% of planned capacity in the first three months of 2021 due to bleak customer demand. Date: Wednesday 18, November 2020 Page: 2 Area: 245 sq. Easyjet foresees losses in 2020 close to 1 billion euros October 08, 2020 14:00 The British airline Easyjet has warned that it could close 2020 with an annual loss of 845 million pounds (931 million euros) due to the drastic fall in its activity as a result of the coronavirus pandemic. LOW-cost airline easyJet has warned it is set to slump into the red by up to £845 million due to the pandemic in what will mark the first full-year loss in its history. Health & Care 2020; Pride of Gwent Awards 2020 ... EasyJet insist customers can 'book with confidence' despite lockdown losses. A UK airline has announced a decrease in losses for the first half of the year despite the fleet being grounded due to coronavirus. easyJet announced record-breaking pre-tax losses of £423m for the last quarter of 2020 as Europe was engulfed by the second wave of the pandemic. easyJet’s Germany losses will primarily be from its very fast growth there. easyJet 'cannot survive another summer' without 'clear plan' - capacity plummets to 10% EASYJET bosses say passenger capacity plummeted to just 87 percent in the final three months of 2020. 0. EasyJet is axing up to 4,500 jobs after its boss warned that the crisis faced by airlines is even worse than rivals have predicted. Balpa, the pilot's union, says it is "shocked at the size of the potential job losses". Easyjet will report its worst financial performance in its 25-year history with the pandemic and subsequent travel restrictions in the aviation industry sending the short-haul European airline The stock is down by about 45 percent in 2020, mirroring sharp falls across the entire aviation sector. ... 2020 01:00 . Published by Correspondent Chloe Shakesby on 16 Apr 2020. This is much higher than for easyJet’s other top countries, which varied between 3% … EasyJet is a British low-cost airline, created in 1995, with headquarters at London Luton Airport, United Kingdom (UK). Published on Thursday, October 8, 2020 EasyJet losses spiral as capacity is slashed until end of year. EasyJet posts first annual loss in its history amid pandemic. EasyJet - Up to 5,000 jobs lost and three hubs closed British Airways - Up to 12,000 jobs lost Virgin Atlantic confirmed it has cut around 4,125 jobs in an update in September 2020. The stock has lost 62% of its value so far in 2020. The UK's biggest tour operator posted losses of 845.8 million euro (£747m) in the first half of 2020, compared to 289.1 million (£255m) in the same period 12 months previously. In October British Airways' parent company IAG said it suffered a £5.1billion loss in the first nine months of 2020 after profits plunged due to coronavirus. A deal has been agreed to avoid compulsory job losses among pilots at airline EasyJet, their union has announced. Published on July 14, 2020, 5:58 AM EDT Have a confidential tip for our reporters? Next quarter looks even worse. easyJet has announced huge job losses. Its board confirmed no dividend would be paid in light of the company's losses. easyJet has reported pre-tax losses of £1.27 billion for the year to September 30, marking the first loss in the airline's 25-year history. Low-cost carrier easyJet has reported pre-tax losses of £1.27 billion for the year to September 30, marking the first loss in the airline’s 25-year history.. UK low-cost carrier easyJet has revealed plans today to cut thousands of jobs. Between March and June, the airline also grounded its entire fleet. Updated / Friday, 25 Sep 2020 15:28. Pilots shock at scale of easyJet redundancy proposals. Coronavirus: 727 easyJet pilots at risk of redundancy due to pandemic. EasyJet reduces losses and increases revenue in first half despite fleet grounding. The company is also proposing to completely close its bases at Stansted, Southend and Newcastle airports. In reaction to the results, EasyJet shares sank 4.0 percent to 746.20 pence in morning London deals. easyJet has today informed BALPA, the trade union representing its UK-based pilots, that 727 of their pilots are at risk of redundancy. cm Circulation: ABC 317817 Daily Ad data: page rate £46,000.00, scc rate £214.00 Phone: 020 7931 2000 Keyword: Easyjet Ben Marlow EasyJet losses bring vaccine optimists down to earth The euphoria among investors in recent days only disguises the fact recovering from Covid will be a The airline has confirmed it could be looking to trim as many as 30% of its workforce in a bid to cut costs to get it through the coronavirus crisis.