Wednesday , January 27 2021

EasyJet extends UK loan over fresh lockdowns

Bloomberg

EasyJet Plc extended the terms of a government-backed loan in the UK to bolster liquidity as a new wave of coronavirus lockdowns crimps travel in Europe.
Britain’s biggest discount airline posted a loss of 835 million pounds ($1.1 billion) for the year through September, within a range already announced, and said in a statement on Tuesday that it will fly no more than 20% of its usual capacity in the three months through December.
EasyJet is bracing for what carriers expect to be a brutal winter, with many markets still closed and a Covid-19 vaccine not yet distributed. The Luton, England-based firm had cash of 2.3 billion pounds as of September 30 and said it will continue to review its liquidity, including further funding opportunities, while seeking to refinance all upcoming maturities.

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