EasyJet is only planning to operate 20% of capacity during the final three months of 2020 due to lockdowns in the UK and other key markets.
The Luton-based carrier said it now expected to “fly no more than about 20% of planned capacity” for the current quarter following the start of the four-week lockdown in England and similar announcements in Germany and France.
When the airline announced its financial results last month, easyJet said it planned to operate around 25% of its scheduled capacity between October and December.
“We remain focused on cash-generative flying over the winter season in order to minimise losses during the first half and retain the flexibility to ramp capacity back up quickly when we see demand return,” said the airline in a statement.
EasyJet also announced the sale and leaseback of 11 of its aircraft, which has raised a further £130.7 million in cash.
The airline said it would “continue to assess further funding options, including those that exist in the robust sale and leaseback market”.
According to reports, easyJet chief executive Johan Lundgren has also opened talks with governments in Germany and other European countries about securing state aid to see the airline through the continuing pandemic this winter.
Lundgren last month appealed for more financial support from the UK government.