EasyJet falls as UK carrier cuts capacity, drops guidance

EasyJet fell as much as 8.2% after the latest UK curbs on international travel forced the discount carrier to slow the build-up of its summer flight schedule. Britain’s biggest discount airline, which had been been planning to fly at 40% of normal capacity in its current Q4, now expects to operate at slightly less than that, it said Tuesday. EasyJet also dropped a forecast for a smaller loss this period than in the third quarter through June, when it had a shortfall of GBP324m. It will provide no financial guidance for the fiscal year starting next month. “Demand is now likely to be further impacted and therefore lower than previously anticipated,” CEO Johan Lundgren said. “It is difficult to overstate the impact that the pandemic and associated government policies has had on the whole industry.” Lundgren repeated calls for sector-specific support for aviation, including the removal of the air passenger duty tax for 12 months, alleviation of air traffic control charges and the extension of a waiver of use-them-or-lose-them airport slot rules.<br/>