Latest quarterly results saw Europe-based low-cost airline easyJet declare a $160.3 million loss from April to June but said there was an improvement in conditions in July.
In a statement, the airline blamed staff shortages, soaring demand and caps on airport capacity for its setback. "We have taken action to build the additional resilience needed this summer and the operation has now normalised," chief executive Johan Lundgren said.
The UK low-cost carrier still operated 95 per cent of its planned schedule in the second quarter despite the upheaval, according to a statement on Tuesday. The company expects capacity in the fourth quarter to be about 90 per cent of the same period in 2019, although it said it will continue to fine-tune the schedule as required.
“We have taken action to build the additional resilience needed this summer and the operation has now normalized,” Mr Lundgren said.
EasyJet has been among the hardest hit by the employee crisis plaguing the European aviation industry after the carrier slashed its workforce at the height of the coronavirus pandemic and has been unable to recruit fast enough to keep pace with the rebound. London Gatwick and Amsterdam Schiphol airports, its two biggest bases, capped flights to help it cope.
Third-quarter revenue came in at £1.76 billion. just above analysts’ estimates, while the headline loss before tax was £114 million.
EasyJet shares have lost almost a third of their value this year, valuing the company at 2.8 billion pounds.
