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EasyJet is Flying


British airline EasyJet said Tuesday that it will operate 60 percent of its pre-pandemic flights in the key summer season, thanks to easing travel restrictions, solid demand and speedy vaccinations.

The carrier revealed it will ramp up capacity in its fourth quarter, or July through September, after operating at 17 percent of its 2019 level in the three months to June.

“In order to capitalise on the opening-up of travel in continental Europe and the easing of restrictions for the fully vaccinated in the UK, EasyJet continues to pivot capacity towards popular routes where we see rising customer demand,” EasyJet said.

“EasyJet will emerge from the pandemic transformed,” added the group, which is based in Luton north of London.

Global aviation was ravaged by the deadly Covid pandemic, which sparked a collapse in demand and grounded flights worldwide, resulting in massive losses across the sector.

However, the industry has been boosted by the lifting of many international travel restrictions in recent months, despite the emergence of the fast-spreading Delta variant.

EasyJet added on Tuesday that its losses narrowed in its third quarter.

Pre-tax losses fell by 8.2 percent to £318.3 million ($436 million, 370 million euros) in the three months to June, compared with the same part of last year.

Revenues surged to £212.9 million, up from just £7.2 million last time around.

“During this quarter we have successfully managed through the continued challenges of the pandemic,” said Chief Executive Johan Lundgren, noting its focus on cost control.

“We have used our existing strengths like our network with renewed purpose — pivoting capacity to Europe where we saw the strongest demand.”

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S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.