EasyJet quarterly revenues slump 88% on pandemic restrictions

British airline EasyJet reported an 88% slump in quarterly revenues as passenger numbers collapsed 87%, hit by the second wave of the pandemic in Europe which has led to new lockdowns and tightening travel restrictions.

In the three months ended Dec. 31, easyJet reported total group revenues of 165 million pounds ($225.3 million), and said that it was making progress with cost-cutting, with its cash burn falling to 40 million pounds per week in a fully grounded scenario.