Easyjet's turnover plummets in the fourth quarter of 2020: compared to the same period of the previous year, the British low-cost airline recorded an overall drop in revenues of 88% to 165 million pounds. The data clearly reflects the collapse in passenger traffic, practically zeroed compared to the fourth quarter of 2019 (when people were still traveling normally): the number of passengers fell by 87% to 2,9 million and passenger revenue down 90% to £118 million.
A result obviously influenced by the restrictions due to the Covid pandemic, but what despite everything, it was deemed "in line with expectations" from Easyjet's chief executive, Johan Lundgren: "We have taken the right actions to ease costs, with core cost reductions, while scaling legacy carriers at key airports will provide further opportunities." In fact, Easyjet aims to conquer new market shares, wedging itself into the slots vacated by the main carriers due to the crisis, and setting aside, at least for the moment, head-to-head competition with low-cost competitors.
“The pandemic – Lundgren had already declared in an interview with the Financial Times – has forced companies of the caliber of Air France, KLM, Lufthansa or British Airways to a huge reduction in capacity, which translates into an equally great growth opportunity for we". However, for now the prospects for this beginning of 2021 are not good: Easyjet is linked to the United Kingdom market, which is in lockdown at this time and which is affected by the restrictions due to Brexit. If indeed in the fourth quarter of 2020 used air capacity was 18%, in the first quarter of this year is expected to be down 10%.
The data from Easyjet is consistent (indeed worse) with the one released today by Assaeroporti, according to which the Italian airport system recorded 52,7 million transiting passengers in 2020, i.e. 120 million fewer passengers, something like three quarters of those transited in the previous twelve months (to be precise, the drop was 74,9%).
