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EasyJet Grounds Entire Fleet Due To Coronavirus Pandemic

easyJet Plc (ESYJY.PK,EZJ.L) has grounded its entire fleet of aircraft due to the coronavirus pandemic. It is unclear when its commercial flights would resume, the Low-cost airline said in a statement.

The Airline said it has been helping to repatriate customers, having operated more than 650 rescue flights to date, returning home more than 45,000 customers. The last of the rescue flights were operated on Sunday 29 March.

Meanwhile, the airline and Unite the union reached an agreement on furlough arrangements for its cabin crew. The agreement will be effective from 1 April 2020 for a period of two months and means that crew will be paid 80% of their average pay through the Government job retention scheme.

easyJet said it maintains a strong balance sheet, with no debt re-financings due until 2022.

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