Carriers, easyJet reduces pressure selling and leasing planes
Losses as of September 30th should be substantial
Sales and lease-back: these are the two financial strategies that allowed the low-cost airline easyJet to reduce the pressure exerted by the crisis linked to the covid-19 (read also the article published by AVIONEWS). As reported by British media in recent hours, this airline raised another 305 million pounds by selling and renting aircraft; the move is not accidental: despite the difficulties, attempts will be made to take off and land these planes during the Winter season. The accumulated money adds to easyJet's £ 2.4 billion in cash. Overall losses as of 30 September last should be around 1.2 billion, but in any case we look to the future with a pinch of confidence through targeted operations.
Going into greater detail, British company has sold 9 of its short-haul A-320s to some leasing companies based in Ireland. Last Summer, however, 23 aircraft were sold and leased. The fact that there is an increase in sales also means that the percentage of aircraft employed compared to the total fleet (337 units) has now fallen to historic lows, to be precise. to 44%. Meanwhile, the easyJet share was heavily affected by these uncertainties on the stock market; on the London Stock Exchange, the share price fell by 3 percentage points.
AVIONEWS - World Aeronautical Press Agency