How easyJet suffered losses of more than £1bn for the second year in a row

Airline eastJet has suffered annual losses of more than £1bn for the second year in a row as the pandemic wrought further havoc on the travel industry.

eastJet suffered annual losses of more than £1bn for the second year in a row.

The group posted statutory pre-tax losses of £1.04bn for the year to September 30, against losses of £1.27bn the previous year.

On an underlying basis, pre-tax losses widened from £835m to £1.14bn.

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The group said it was "too early to say" what impact Omicron, the much-feared new strain of Covid-19, could have but confirmed it had seen an increase in transfers and some softening of trading in the current quarter.

It added: "We are still seeing good levels of new bookings for the second half and we still expect that the fourth quarter of 2021/22 will see a return to near pre-pandemic levels of capacity as people take their long-awaited summer holidays."

Johan Lundgren, chief executive of easyJet, said: "We have seen an encouraging start to this year with strong demand returning for peak winter holiday periods, coupled with increasing summer demand with fourth-quarter capacity expected to be close to full-year 2019 levels.

"As the UK's largest carrier, easyJet expects a significant benefit as the UK bounces back next summer."

He added: "In summary, we remain mindful that many uncertainties remain as we navigate the winter, but we see a unique opportunity for easyJet to win customers and take market share from rivals in this period."


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