easyJet PLC easyJet Statement - Fleet Grounding (9567H)
30 March 2020 - 5:00PM
UK Regulatory
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
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END
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