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John Wang
March 30 20:47

EasyJet grounds its fleet

The company does not know when it will continue to fly.
British airlines EasyJet is grounding all of its planes - over 330 aircrafts. The company is currently unsure when it will renew its operation.

4,000 of its cabin crew employees in the United Kingdom are furlonged for two months. They will still receive 80% of their monthly salary in compliance with the job retention scheme introduced by the British government.
Same as many airlines around the world, EasyJet is currently fighting to survive the crisis. The coronavirus pandemic ha hit the travel industry the hardest. As the international travel stops, airlines are losing revenue and have to implement new measures to save their budgets. 
British airlines have been waiting for a relief package from the government. However, British authorities have recently stated that it might consider the option only when all other possibilities have been exhausted. Raising capital from the existing investors has been encouraged. 
EasyJet has stated, that it will focus on short term liquidity. The company plans to reduce business costs and to work with suppliers to save money wherever it is possible.