- EasyJet (OTCPK:EJTTF -1.1%) will raise the number of flights between now and December to 70% of its pre-pandemic capacity from its previous goal of 60% as loosening travel restrictions in Europe have led to a surge in holiday travel demand.
- The uplifting news comes as the company will post its results on Nov 30 for the fiscal year ending September. Analysts expect a loss of 1.175B pounds ($1.6B)
- The company declined to provide guidance for 2022, saying it was difficult to predict revenue because fliers are booking close to their travel date.
- EasyJet's recovery is helped by Britain getting rid of some test requirements and a traffic light system that deterred bookings. "It is clear recovery is underway," said CEO Johan Lundgren.
- The airliner plans to undergo its recovery alone, raising $1.7B in a rights issue rather than accept a takeover bid from rival Wizz Air.