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EasyJet boss gives hope to British holidaymakers ahead of summer

EasyJet expecting to fly up to 20% of its 2019 capacity in the coming months to June this year

The CEO of EasyJet (LON:EZJ) has given hope to British people itching to go on holiday this summer.

The airline said that, on the basis of current travel restrictions, it was expecting to fly up to 20% of its 2019 capacity in the coming months to June this year, on the presumption being that “capacity levels will start to increase from late May onwards”.

The government has suggested that international travel will return from its target date of May 17, however it does not expect to confirm as such until early next month. In addition, travellers to “green list” countries will be required to undergo rapid Covid-19 tests .

The situation is less clear in Europe where the pandemic is less under control. Nonetheless, CEO of EasyJet, Johan Lundgren, expects all European countries to open to British travellers by mid-May. Lundgren added that his company continues to hold talks with the UK government “to ensure that the cost of the required testing is driven down so that it doesn’t risk turning back the clock and making travel too costly for some”.

In its half-year trading update the airline said that it is anticipating a loss before tax of £690-730m for the first half of the year, up to 31 March, slightly above its initial expectations. 

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As reported a month ago, the EasyJet share price climbed back to 1050p per share following a devastating period for the industry during the pandemic. As economies around the world opened up, the prospects of the travel industry following suit gave cause for hope for investors in airlines with depleted share prices.

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