EasyJet makes the best out of summertime blues

FINANCIAL TIMES 🔒| EasyJet is making it look easy, at least compared to other airlines hit by Covid-19. Even with no revenues, boss Johan Lundgren reckons it has enough cash to see it through nine months of lockdown. Many of its global long-haul peers have already gone cap in hand to governments for bailouts. If it looks easy, it isn’t, though. In the two months since the disruption really started, easyJet has conserved as much cash as it can. It has maxed out its revolving credit facility, borrowed £600m from the Bank of England, put off plane purchases and will sell and lease back some of its existing fleet. Weekly operating cost cash burn has been cut by 70 per cent.


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