easyJet PLC announced that it completely shut down its entire fleet on Monday due to “unprecedented” travel restrictions imposed by governments around the world in response to the new coronavirus pandemic and the use of national locking in many European countries.
Low-cost airline shares fell 9.8% on Monday to 536.51 pence each.
Airlines have suffered blows when countries around the world close their borders and order citizens to stay as far as possible to limit the spread of the virus.
easyJet said that at the moment there is no certainty about when commercial flights will restart and that the situation is continually assessed according to regulations and requests.
“We continue to do everything we can to eliminate costs and non-critical business costs at all levels and reduce the impact of the corona virus. Landing planes eliminate significant costs,” the company said.
The airline stresses that it will maintain a stable balance without debt refinancing by 2022.
easyJet has completed more than 650 rescue flights so far, the last of these rescue flights on Sunday. He plans to continue the rescue flight as requested by the government.
FTSE 100 and Unite Union have reached an agreement on a detailed agreement for their cabin crew. The agreement entered into force on Wednesday for two months and means that 80% of the average salary will be paid to the crew through the British government retention system.
Johan Lundgren, CEO of easyJet, said: “We work tirelessly to ensure that easyJet remains in a good position to meet the challenges of the corona virus.”