UK price range service EasyJet mentioned on Monday that it has parked its complete fleet after finishing repatriation flights. The coronavirus well being disaster is bringing the worldwide journey trade to a halt.
In response to the corporate, it has labored out an settlement with cabin crew, who will get 80 % of their pay underneath a authorities program. EasyJet mentioned it’s in search of methods to extend its entry to money, including that the corporate has a robust stability sheet and no maturities till 2022.
“We’re in ongoing discussions with liquidity suppliers who acknowledge our energy of stability sheet and enterprise mannequin,” mentioned Europe’s second-largest price range airline. The timing of a restart of scheduled flights is unsure and can depend upon authorities restrictions in addition to demand, the service added.
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The worldwide aviation trade has been hammered by the coronavirus pandemic. Worldwide Air Transport Affiliation chief Alexandre de Juniac appealed to world governments this month for money bailouts and emergency loans, claiming that the virus might see airline revenues worldwide drop by as much as $ 113 billion.
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