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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Easyjet Plc | LSE:EZJ | London | Ordinary Share | GB00B7KR2P84 | ORD 27 2/7P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-8.80 | -1.61% | 536.20 | 535.20 | 535.80 | 550.20 | 534.80 | 550.20 | 2,702,281 | 16:35:15 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Air Transport, Scheduled | 8.17B | 324M | 0.4274 | 12.52 | 4.06B |
TIDMEZJ
RNS Number : 9567H
easyJet PLC
30 March 2020
30 March 2020
easyJet plc
('easyJet')
EASYJET STATEMENT - FLEET GROUNDING
As a result of the unprecedented travel restrictions imposed by governments in response to the coronavirus pandemic and the implementation of national lockdowns across many European countries, easyJet has, today, fully grounded its entire fleet of aircraft.
Over recent days easyJet has been helping to repatriate customers, having operated more than 650 rescue flights to date, returning home more than 45,000 customers. The last of these rescue flights were operated on Sunday 29 March. We will continue to work with government bodies to operate additional rescue flights as requested.
At this stage there can be no certainty of the date for restarting commercial flights. We will continuously evaluate the situation based on regulations and demand, and will update the market when we have a view.
We continue to take every action to remove cost and non-critical expenditure from the business at every level in order to help mitigate the impact from the coronavirus. The grounding of aircraft removes significant cost.
easyJet maintains a strong balance sheet, with no debt re-financings due until 2022. We are in ongoing discussions with liquidity providers who recognise our strength of balance sheet and business model.
easyJet and Unite the union have collaboratively reached an agreement on furlough arrangements for its cabin crew. The agreement will be effective from 1 April 2020 for a period of two months and means that crew will be paid 80% of their average pay through the Government job retention scheme.
Johan Lundgren, easyJet CEO said:
"I am extremely proud of the way in which people across easyJet have given their absolute best at such a challenging time, including so many crew who have volunteered to operate rescue flights to bring our customers home. We are working tirelessly to ensure that easyJet continues to be well positioned to overcome the challenges of coronavirus."
For further details please contact easyJet plc:
Institutional investors and analysts:
Michael Barker Investor Relations +44 (0)7985 890 939 Holly Grainger Investor Relations +44 (0)7583 101 913
Media:
Anna Knowles Corporate Communications +44 (0)7985 873 313 Edward Simpkins Finsbury +44 (0)7947 740 551 / (0)207 251 3801
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
MSCBIGDXCBDDGGC
(END) Dow Jones Newswires
March 30, 2020 02:00 ET (06:00 GMT)
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