Planes likely to be grounded
Easyjet warns European airlines ‘may not survive’
Planes may be grounded for some time (pic: Terry Murden)
Easyjet today said there is no guarantee that European airlines will survive what could be a long-term travel freeze.
It has announced ‘significant cancellations’ of flights and said it is removing cost and ‘non-critical’ expenditure to mitigate the impact of coronavirus. BA has also announced a sharp cut to flights.
Easyjet said it has a strong balance sheet and an undrawn revolving credit facility.
But cuts in flights will continue on a rolling basis for the foreseeable future and could result in the grounding of the majority of the easyJet fleet.
It said it will continue to operate rescue flights for short periods “where we can”, in order to repatriate customers.