British EasyJet Notices Improvement In Tourism And Travel

Britain's EasyJet says the travel sector is recovering after recording an annual loss of $1.5 billion

British Airways easyJet said that travel within Europe has begun to recover due to the increase in the number of flights at the present time compared to last December, after its annual loss reached 1 billion pounds during the pandemic crisis.

easyJet said that it will operate during the fall of this year at a capacity of up to 70% of its capacity before the outbreak of the pandemic, to exceed the 60% that it was planning to reach just a month ago, at a time when the demand for travel for the holiday season is rising, especially in the United Kingdom, which has eased Recent travel restrictions. Read more [Holiday Bookings Rise As British Hope Tourism Will Improve].

Winter tourism destinations such as Egypt, Turkey and the Canary Islands witnessed a large turnout of travelers, and businessmen returned to travel by air again, which made the CEO of easyJet declare that the capacity with which his company will operate will continue to increase during 2022.

The optimistic outlook marks a turning point from last year, when uncertainty around the pandemic and travel and mobility restrictions prompted easyJet to post a projected loss of between 1.135 billion pounds ($1.54 billion) and 1.175 billion pounds over the 12 months to September, and those results, which will be confirmed on November 30, will at best exceed analysts’ expectations, which are equal to a loss of about 1.175 billion pounds, but it is worth noting that easyJet shares fell 1.5% to 638 pence.

Despite improving its outlook, the British airline warned that customers are booking close to their travel dates, which means it will not provide guidance for 2022, and will not propose a dividend to shareholders this year.

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