Tech

EasyJet’s loss for the third year in a row


British airline EasyJet on Tuesday confirmed its third consecutive annual loss, however, this is far less than during the worst of the Covid pandemic.

The airline, which mainly flies across Europe, posted an after-tax loss of £169 million ($203 million) for the financial year to the end of September.

That compared to a net loss is £858 million in 2020/21, EasyJet added in a statement.

Covid pandemic wreaks havoc on global aviation, landing plane worldwide and forced Airlines to cut thousands of jobs by 2020.

Demand has recovered strongly after most blockade orders were lifted. However, airlines and airports are struggling to hire enough staff after cutting too many positions.

CEO Johan Lundgren said: “EasyJet achieved record recovery this summer.

He added that in the current “difficult” period economic environmentConsumers still want to go on vacation but seek value, helping the budget carrier outperform older rivals.

“Old airlines will struggle in this high-cost environment,” says Lundgren.

© 2022 AFP

quote: EasyJet with third consecutive annual loss (2022, 29 Nov) accessed 29 Nov 2022 from https://techxplore.com/news/2022-11-easyjet-fly-straight-annual- loss.html

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