EasyJet H1 Revenue, Traffic Plunge; Sees Wider Headline Loss - Quick Facts

easyJet Plc (ESYJY.PK,EZJ.L) reported Wednesday that its total group revenue for the six months ended March 31 decreased about 90 percent to about 235 million pounds.

Passenger revenue plunged 91 percent to about 165 million pounds and ancillary revenue decreased 87 percent to about 70 million pounds.

First-half passenger numbers decreased by 89 percent to 4.1 million. During the first half, easyJet flew 6.4 million seats, representing 14 percent of first-half 2019 capacity levels, in line with expectations.

Group headline costs excluding fuel for the first half decreased 59 percent to about 845 million pounds.

EasyJet said its first-half results are slightly better than expectations and it maintains significant liquidity while also delivering second-quarter ash burn better than guidance.

easyJet is encouraged by the strong vaccination rollout in the UK and expects the European rollout to pick up pace in the coming weeks, so is looking forward to taking customers on a long-awaited holiday this summer.

Looking ahead, based on current travel restrictions in the markets in which it operates, first-half group headline loss before tax is expected to be in the range of 690 million pounds to 730 million pounds. In the prior year, the company's headline loss before tax was 193 million pounds.

The group reported loss before tax is expected to reflect the positive impact of the non-headline items.

easyJet expects to fly up to 20 percent of 2019 capacity levels in the third quarter with an expectation that capacity levels will start to increase from late May onwards.

easyJet will release half year results on May 20.

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