EasyJet grounds fleet as COVID causes reduction in flights

Reuters has reported easyJet (EZJ.L), a budget airline based in the UK, has grounded its fleet of 344 planes and has no clear idea when it might resume flights, the company said.

EasyJet said it would lay off its 4,000 UK-based cabin crew for two months, meaning they won´t work from April 1 but will get 80% of their average pay under a state job retention scheme.

The airline said it was focused on short-term liquidity, including removing costs from the business and working with suppliers to defer and reduce payments where possible.

It said grounding its fleet removed significant costs and that it was continuing to talk to UK pilots union BALPA over a potential deal with pilots.

EasyJet said it was focused on using UK government measures already announced to help its finances during the coronavirus crisis and has no plans to ask for any bespoke support.