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Post by Deleted on Mar 18, 2020 14:44:11 GMT 1
Agreed. Just booked Lanzarote for November. Cash flow is everything at present, well done easyJet for being forward looking. Booked on credit card of course for additional protection. Incidentally, good to see Tenerife is back next winter. Not quite the help you are suggesting. The company don’t get the money until after the service is provided, hence if the company goes bust the credit card company can make the refund. All companies have different agreements, but the above gives you an idea. But since the credit card companies are run by the banks, presumably EZY could borrow against the credit card takings.
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Post by eye2eye5 on Mar 18, 2020 15:37:12 GMT 1
Barclaycard is a subsidiary of Barclays. Mastercard (which took over from Access) is an American company. The funds owed to easyJet in respect of credit card bookings will appear on the balance sheet. These should be taken into account for any lending decision, albeit it's not as good as having cash in the bank but significantly preferable to having nothing!
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Post by kuga59 on Mar 18, 2020 17:47:11 GMT 1
In good times pre-sales of flights is a great indication of future profitability and acts as extra security going forward. However in the current climate it is highly likely that the flights don’t take place either through governments restrictions or due to the company calling in the recievers. Therefore these pre-sales rather than an asset become a potential liability. Airlines are sitting on pre-sale tickets sold which due to restrictions will have to refund the fares paid. New customers are getting fewer and fewer so the pre-sale figures are getting less and less. The government with yesterday’s package of measures have told the banks that they will guarantee loans. This will allow the banks to lend further to the airlines but as we have seen from the likes of BA, Virgin the numbers involved are huge but even though the funds can be made available at some point in the future these loans will have to be repaid. But this will be a problem for another day.
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Post by lfc84 on Mar 18, 2020 18:24:31 GMT 1
Very unlikely easyjet are going to be in financial trouble after this. It is substantially stronger than IAG in terms of debt vs cost base and revenue.
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Post by robaero on Mar 20, 2020 19:06:05 GMT 1
Easyjet is to ground most of it`s fleet from the 24.03.2020.
Easyjet has announced it will ground most of its aircraft due to travel restrictions and a collapse in demand caused by the coronavirus. The Luton-based carrier said it will park “the majority of its fleet” from Tuesday. It will only run “essential services”, which will be up to 10% of its usual capacity and mainly involve flights serving UK airports. EasyJet pledged to continue to operate rescue flights to repatriate stranded passengers but it expects most of those to be completed by Monday. With the spread of the novel coronavirus (COVID-19) causing significant global disruption in 2020, the U.K. has escalated its response by encouraging individuals to work from home where possible, advising against all essential travel and social contact, and announcing a major economic relief package to help support businesses and communities affected by the pandemic. Addressing the public with daily updates on the ongoing situation, the government is responding by implementing emergency measures and closing schools across the country from March 20. As individuals and groups across the U.K. prepare for increasingly stringent measures, we look at the situation in the country and around the world in pictures. Prime Minister Boris Johnson gave a press conference on the ongoing situation with the coronavirus (COVID-19) pandemic with chief medical officer Chris Whitty (L) and Chief scientific officer Sir Patrick Vallance (R) in Downing Street after he had taken part in the government's emergency Cobra meeting in London, England on March 16. Chief executive Johan Lundgren said: “These are unprecedented times for the airline industry. “We know how important it is for customers to get home and so are continuing to operate rescue flights over the coming days to repatriate them. “Significantly reducing our flying programme is the right thing to do when many countries have issued advice to their citizens not to travel unless it is essential and the aircraft groundings will also remove significant levels of variable costs at a time when this remains crucial.”
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Post by ronturner on Mar 20, 2020 21:33:45 GMT 1
Anybody care to hypothesize as to whether or not services to the Isle of Man and Belfast might be considered "essential"?
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Post by ametyst on Mar 20, 2020 21:37:53 GMT 1
Well, easyJet has flights on sale after 25 March from Liverpool to Amsterdam, Belfast, Berlin, Faro, Geneva, Grenoble, Isle of Man, Jersey, Nice and Paris.
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Post by robaero on Mar 20, 2020 22:02:27 GMT 1
Had an e-mail from Easyjet, they are launching their 2020/2021 winter programme earlier than planned.
Due to the unprecedented circumstances, we’re launching our winter schedule early so that if you have an existing booking you can change to a flight for travel up until February 2021.
We’ve waived our change fees until further notice, so you can currently amend the date and/or destination of your existing flight booking for free. The quickest and easiest way to do this is via Manage Bookings on our app. We’ve also got a dedicated Customer Service number to support those wanting to change existing bookings: 0330 365 5030.
Until midnight on Tuesday 24/3/20, fares for our flights from 25th October 2020 - 28th February 2021 will be available at or below £29.99 one way per person. These fares are available on our website to book now.
easyJet holidays for the winter 20/21 season will be available to book tomorrow.
We’re doing all we can to support our customers during these uncertain times and we thank you for your continued custom.
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Post by bulldog on Mar 21, 2020 17:46:13 GMT 1
I booked some cheap returns to Tenerife last Friday when this came out. £29.99 out and £27.99 back for Feb 2021, even the day the flights were announced my first choice of dates had already sold out!,
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Post by harbourcotter on Mar 31, 2020 16:11:31 GMT 1
Yes, I was surprised at the pent-up demand. I had a prebooked long-haul flight from AMS and booked easyjet to connect at a good price. I thought that I may as well also use the opportunity to book a flight to TFS and my first choice dates were also sold out, but I booked an alternative date. Hopefully given 8 months we may be back to a semblance of normality. Hopefully its a sign of commitment to LPL from Easy.
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Post by lfc84 on Apr 23, 2020 10:42:06 GMT 1
I booked some cheap returns to Tenerife last Friday when this came out. £29.99 out and £27.99 back for Feb 2021, even the day the flights were announced my first choice of dates had already sold out!, Feb 2021 dates back on sale. Albeit at very high prices. Also, March and April 2021 now on sale
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Post by lfc84 on Apr 24, 2020 22:57:54 GMT 1
Does anyone have any advance information about when Easyjet will resume flying ? Will it really be 18th May ?
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Post by lfc84 on May 14, 2020 12:34:09 GMT 1
Up to May 2021 on sale now. Looks like resumption of ops is July 2020
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Post by bulldog on May 21, 2020 8:30:27 GMT 1
Extra have announced that they will commence flying against on 15th June with LJLA being one of first to re start. From Reuters
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Post by robaero on May 21, 2020 10:28:08 GMT 1
It looks the Belfast route and the Isle of Man are starting first from Liverpool, other routes may resume depending on customer demand. All passengers and crew to wear face masks.
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