Business
Update on capacity, fleet & cost structure plans
Update on capacity, fleet & cost structure plans.
About this update from Easyjet Plc
[{"type":"text","content":"\n \n \n RNS Number : 1396O\n easyJet PLC\n 28 May 2020\n \n \n \n \n 28 May 2020\n \n \n \n \n \n easyJet plc\n \n \n ('easyJet')\n \n \n \n \n \n \n \n \n easyJet updates the market on capacity, fleet and cost structure plans \n \n \n \n \n \n \n \n \n This announcement contains inside information. \n \n \n \n \n \n \n \n \n Fleet and capacity\n \n \n As announced last week, easyJet will resume flying on 15 June, servicing a small number of routes where we believe there is sufficient customer demand to support profitable flying. The initial schedule will comprise mainly domestic flying in the UK and France. \n \n \n \n \n \n Further routes will be announced as customer demand increases and government restrictions across Europe are relaxed. So far, the booking trends on the resumed flights have been encouraging, and the demand indications for summer 2020 are improving, albeit from a low base. Bookings for winter are well ahead of the equivalent point last year, which includes customers who are rebooking coronavirus-disrupted flights for later dates. \n \n \n \n \n \n Regarding fiscal Q4 2020 capacity, current plans are that easyJet expects to fly around 30% of the planned capacity flown in Q4 2019. This will continue to be evaluated reflecting changing regulations and customer demand. Our commercial planning and data science teams continue to work through different demand scenarios as we move through summer and into winter 2020/21. \n \n \n Looking further forward, easyJet expects its year end 2021 fleet size to be at the bottom end of our fleet range at around 302 aircraft, which is 51 aircraft lower than the anticipated fleet size for year end 2021 which was reported to the market prior to Covid-19. This fleet number will include c.3-4% of un-crewed standby aircraft during peak. The reduction in fleet size will be achieved through the measures previously announced, including the deferral of new aircraft deliveries and the re-delivery of leased aircraft. \n \n \n In line with IATA projections, easyJet believes that the levels of market demand seen in 2019 are not likely to be reached again until 2023. Our fleet deal with Airbus gives easyJet the flexibility to react to the different circumstances and varying demand environments which we may be faced ...