Business
Summer 2022 Trading Update
Summer 2022 Trading Update.
About this update from Easyjet Plc
[{"type":"text","content":"\n \n\n\neasyJet plc (EZJ)\n\n\n\nSummer 2022 Trading Update20-Jun-2022 / 07:00 GMT/BSTDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n20 June 2022 \n\n \n\nThis announcement contains inside information \n\n \n\neasyJet plc\n\nSummer 2022 trading update\n\n \n\nIn the quarter ending 30 June easyJet plans to operate around 140,000 flights, carrying around 22m passengers, with capacity planned to be 550% of the same period in 2021. Demand for travel has returned with April and May passengers seven times the same months last year. \n\n \n\nGiven the unprecedented ramp up, the aviation industry across Europe is experiencing operational issues with root causes similar to the post covid supply chain issues being seen in many other parts of the economy. The challenges include air traffic control delays and staff shortages in ground handling and at airports, resulting in increased aircraft turnaround times and delayed departures which have a knock-on effect resulting in flight cancellations. A very tight labour market for the whole ecosystem including crew, compounded by increased ID check times, has reduced planned resilience further. This is reflected in the flight caps announced recently at two of our biggest airports, London Gatwick and Amsterdam.\n\n \n\nIn response to these caps and in order to build additional resilience, easyJet is proactively consolidating a number of flights across affected airports. This provides customers with advance notice and the potential to rebook onto alternative flights. Given easyJet’s high frequency network, we expect to be able to rebook the majority of customers on alternative flights, with many being on the same day as originally booked for. \n\n \n\nAs a result of these pre-emptive actions, easyJet now expects its third quarter capacity, to 30 June 2022, to be around 87% of FY19 levels, and Q4, to 30 September 2022, to be around 90% of FY19 levels. There will be a cost impact from disruption, coupled with the enhanced resilience easyJet is putting in place this summer, from additional wet leased aircraft, crew costs and airport charges. We will therefore exceed the previously provided operating...