StockMarketWire.com - Budget airline Easyjet said it expected to cut its workforce by up to 30% as it sought to reduce the size of its fleet, with the company warning that demand would likely only return to pre-pandemic levels in about three years.

The company also said that capacity for the fourth quarter of this year would be well below that of last year.

For the fiscal fourth quarter of 2020, easyJet said it expected to fly around 30% of the planned capacity flown in fourth of 2019, and added that it would continue to cut costs by cutting both the size of its fleet and its workforce.

'Although we will restart flying on 15 June, we expect demand to build slowly, only returning to 2019 levels in about three years' time,' the company said.

Looking further forward, easyJet expected its year end 2021 fleet size to be at the bottom end of our fleet range at around 302 aircraft, which was 51 aircraft lower than the anticipated fleet size for year end 2021 which was reported to the market prior to Covid-19.

This fleet number would include 3%-to-4% of un-crewed standby aircraft during peak.





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