EasyJet grounds entire fleet due to coronavirus

EasyJet grounds entire fleet due to coronavirus

British low cost airline easyJet said it had grounded its entire fleet of over 330 aircraft due to the coronavirus threat and had no visibility on when it could restart flights.

EasyJet also said that it would furlough its 4,000 UK-based cabin crew for two months, meaning they will not work from April 1 but will be paid 80% of their average pay under a government job retention scheme.

EasyJet said it was focused on short term liquidity, including removing cost from the business and working with suppliers to defer and reduce payments where possible, including on aircraft expenditure, and was in ongoing discussions with liquidity providers, Reuters reported.

The airline said that grounding its aircraft removed significant cost.

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