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Share Price Information for easyJet (EZJ)

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Share Price: 452.10
Bid: 452.60
Ask: 452.90
Change: 1.70 (0.38%)
Spread: 0.30 (0.066%)
Open: 456.20
High: 459.50
Low: 449.20
Prev. Close: 450.40
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UPDATE 1-easyJet calls on UK to outline path out of pandemic restrictions

Wed, 10th Feb 2021 12:47

(Recasts with CEO comments)

LONDON, Feb 10 (Reuters) - Britain must set out how it will
ease coronavirus travel restrictions, easyJet's chief
executive said on Wednesday, a day after the government
tightened already strict travel rules in a further blow for
airlines.

Johan Lundgren, easyJet CEO, said there was strong demand
for leisure travel but the success of what could be a
make-or-break summer for Europe's airlines depends on the
effectiveness of vaccines against new variants of the
coronavirus.

"Most important now is that the government comes out with a
plan on how they're going to unwind these restrictions," Lungren
told a CAPA online aviation conference.

"I'm positive for a strong summer if the vaccination
programmes are successful, if it works on the variants... then
we know that there's a big urgent need for the government to
unwind these restrictions," he said.

Airlines and travel companies are desperate for a summer
recovery after COVID-19 wiped out most of their revenues for
close to a year.

But in the United Kingdom, the government has tightened
travel restrictions to guard against new variants.

Holidays are already banned under lockdown rules, and
ministers refuse to say how long that could last. Earlier on
Wednesday, the transport minister told people not to book trips
abroad or at home for the summer.

For the small number of people permitted to fly for
essential reasons, the rules get tougher from Feb.15, when
travellers must take three COVID-19 tests, and arrivals from
high-risk countries must shell out 1,750 pounds to quarantine in
a hotel.

EasyJet plans to fly no more than 10% of 2019's capacity in
January-March, down from 18% in September-December.

The airline has been less vocal in forecasting a bumper
summer compared to competitors such as Europe's biggest airline
Ryanair, and budget upstart Wizz Air.

"I don't think we are more cautious - just that we don't
boast about anything while you know there's insignificant
amounts of flying," Lundgren said when asked about the different
approaches, adding that easyJet's was "more prudent".
(Reporting by Sarah Young and Kate Holton; editing by William
James/Guy Faulconbridge)

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