EasyJet Set for Turbulent FY 2021 Results Due to Pandemic — Earnings Preview

- Advertisement -


by Joe Hope

- Advertisement -
- Advertisement -

EasyJet PLC is scheduled to report fiscal year 2021 results on Tuesday. Here’s what you need to know:

- Advertisement -

Revenue: The UK budget airline is expected to post revenue of 1.45 billion pounds ($1.93 billion) for the year ended 30 September, according to a consensus of 20 analysts and taken from FactSet. This compares to GBP3.01 billion in FY20 and GBP6.39 billion in FY19.

PRETAX LOSS: Consensus of seven analysts sourced from FactSet, pretax loss for FY21 is GBP1.13 billion, up from loss of GBP1.27 billion a year ago and profit of GBP430.0 million recorded in FY19 swinging from.

Adjusted pretax loss: Adjusted pretax loss for the year – the company’s preferred metric that separates exceptional and other one-time items – is forecast by 11 analysts and estimated from FactSet to be GBP1.16 billion, up from GBP835 million is more. Loss recorded in FY 2020

what to watch:

–PANDEMIC HIT: The UK government said on Saturday that all arriving passengers from Tuesday, including those who are fully vaccinated, will have to undergo a 2-day PCR test pending. Citi said short-haul European flight demand appears to be recovering toward pre-pandemic levels, but the change could de-rail EasyJet’s winter schedule. While passenger numbers are likely to recover in the second half of fiscal 2021, EasyJet still poses significant risks to the UK and its quarantine rules, the US bank said.

Price pressure: The company has said that it will increase its capacity by about 70% to pre-pandemic levels in the first quarter of FY 2022. It reported capacity for 17% and for 58% at the end of the third quarter. Fourth. “We see near-term pricing pressure as the company expands capacity from relatively lower load-factor levels versus lower-cost carrier counterparts,” say analysts at Citi.

Write to Joe Hope at [email protected]

,

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox