easyJet shares (LON: EZJ) took a small dip on Thursday as the group released a trading statement for the last 12 months.
The budget airline said it is in line for a full-year loss for the first-ever time as passenger numbers have halved amid the pandemic.
For the 12 months to 30 September, the group expects to make a loss of between £815m to £845m.
Passenger numbers over the past 12 months plunged to 48 million due to travel restrictions and quarantine rules.
easyJet has warned that numbers will not return to normal for some time and has called on the government to support the aviation sector as it faces “the most severe threat in its history.”
The group’s chief executive, Johan Lundgren, said: “Based on current travel restrictions we expect to fly c.25% of planned capacity for Q1 2021 but we retain the flexibility to ramp up capacity quickly when we see demand return and early booking levels for summer ‘21 are in line with previous years.
“Aviation continues to face the most severe threat in its history and the UK Government urgently needs to step up with a bespoke package of measures to ensure airlines are able to support economic recovery when it comes.
“easyJet came into this crisis in a very strong position thanks to its strong balance sheet and consistent profitability. This year will be the first time in its history that easyJet has ever made a full year loss,” he added.
easyJet’s revenue plunged almost 75%, falling from £2.3bn last year to £620m.
In the first quarter of the next financial year, easyJet said that it expects to fly just 25% of capacity. The airline will focus on ash generative flying over the winter season in order to minimise losses during the first half.