EasyJet: 24 Airbus deferred for 3-5 years
New aircraft delivery plan rescheduled
The carrier is preparing to slow down new Airbus deliveries
EasyJet, after having confirmed its intention to postpone the delivery of 32 aircraft, initially scheduled to arrive between June 2020 and December 2021, announced yesterday, through a communication to the shareholders, that it had agreed with Airbus the new delivery dates, to deal with the Covid-19 crisis. 24 airplanes, whose arrival had already been postponed by December 2022, can now be delivered between 2025 and 2027.
The low-cost company makes it known that the purchase price agreed in 2013 will remain unchanged, as will interest on postponed orders, which will compensate for inflation, cost of labor and materials; however, payments will not be made in advance, but on delivery, for almost all new planes.
The company points out that the additional costs due to deferred deliveries will be offset by the lower indebtedness associated with the "significant cash flow benefits in the next 16 months, arising from these deferrals including consequential changes to the schedule of pre-delivery payments", according to the official communication of the airline reports.
With this agreement, further flexibility was also agreed in relation to future purchase options, confirming that the long-term strategy does not change: easyJet will continue to gradually replace its older fleet with the new A-320 Neo, which have a more advanced technology and are fuel efficient.
Its 50% fleet consisting of A-320, of which 45 new generation ones, had 337 aircraft as of April 1, 2020, 23 more than in September 2019, of which 167 based in the United Kingdom, 140 in Europe and 30 in Switzerland.
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