EasyJet chief Johan Lundgren said bookings jumped in Britain earlier this month when travel restrictions were reduced. AFP
EasyJet chief Johan Lundgren said bookings jumped in Britain earlier this month when travel restrictions were reduced. AFP
EasyJet chief Johan Lundgren said bookings jumped in Britain earlier this month when travel restrictions were reduced. AFP
EasyJet chief Johan Lundgren said bookings jumped in Britain earlier this month when travel restrictions were reduced. AFP

EasyJet halves losses in fourth quarter despite Omicron threat


Alice Haine
  • English
  • Arabic

British airline easyJet halved its losses in the fourth quarter of last year and expects demand to be strong this summer when its capacity will approach pre-coronavirus levels.

The England-based company posted a pre-tax loss of £213 million ($287.6m) in the three months to the end of December, significantly lower than the £423m loss in the same period in 2020.

Chief executive Johan Lundgren said bookings jumped in Britain earlier this month when travel restrictions were reduced, with another boost tied to the government’s announcement that testing requirements would end next month.

"We see a strong summer ahead, with pent up demand that will see easyJet returning to near 2019 levels of capacity, with UK beach and leisure routes performing particularly well," Mr Lundgren said.

Britain will end testing from February 11 and the EU has said it also plans to drop requirements for those who are fully vaccinated.

The changes have raised confidence levels among airlines after a two-year slump caused by the Covid-19 pandemic, which grounded planes around the globe when the crisis began in March 2020.

The International Air Transport Association said earlier this week that the global airline industry is “optimistic” about the outlook for air travel in the year ahead as Omicron-related restrictions are eased or removed.

“We believe testing for travel across our network should soon become a thing of the past,” said Mr Lundgren.

This came after annual passenger traffic recovered to 42 per cent of 2019 levels last year and cargo volumes rose 7 per cent from 2019, with domestic travel leading the recovery.

The contraction in easyJet’s losses in the fourth quarter came despite the Omicron variant of coronavirus affecting its performance, with the flying at 67 per cent capacity in December, causing it to miss its forecast of 80 per cent.

The airline's share price dropped 1.3 per cent in early trading after it said the Omicron variant was also affecting its performance this quarter. However it pared back some of its losses by 9am to be down 0.6 per cent.

EasyJet faces increased competition from bigger rival Ryanair Holdings and fast-expanding Wizz Air Holdings, which are both rapidly adding planes.

Wizz said on Wednesday that its Omicron losses are expected to continue in the first quarter of this year while pledging to boost UK capacity in the near term, especially at Gatwick airport south of London, easyJet’s biggest base.

Both Ryanair and Wizz are also growing in hot markets such as Italy, where Alitalia successor ITA Airways is a re-energised contender.

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Ibrahim's play list

Completed an electrical diploma at the Adnoc Technical Institute

Works as a public relations officer with Adnoc

Apart from the piano, he plays the accordion, oud and guitar

His favourite composer is Johann Sebastian Bach

Also enjoys listening to Mozart

Likes all genres of music including Arabic music and jazz

Enjoys rock groups Scorpions and Metallica 

Other musicians he likes are Syrian-American pianist Malek Jandali and Lebanese oud player Rabih Abou Khalil

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

Have you been targeted?

Tuan Phan of SimplyFI.org lists five signs you have been mis-sold to:

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ICC T20 Rankings

1. India - 270 ranking points

 

2. England - 265 points

 

3. Pakistan - 261 points

 

4. South Africa - 253 points

 

5. Australia - 251 points 

 

6. New Zealand - 250 points

 

7. West Indies - 240 points

 

8. Bangladesh - 233 points

 

9. Sri Lanka - 230 points

 

10. Afghanistan - 226 points

 
The specs
Engine: 2.5-litre, turbocharged 5-cylinder

Transmission: seven-speed auto

Power: 400hp

Torque: 500Nm

Price: Dh300,000 (estimate)

On sale: 2022 

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Why seagrass matters
  • Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
  • Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
  • Biodiversity: Support species like sea turtles, dugongs, and seabirds
  • Coastal protection: Reduce erosion and improve water quality

Leap of Faith

Michael J Mazarr

Public Affairs

Dh67
 

The bio

Favourite food: Japanese

Favourite car: Lamborghini

Favourite hobby: Football

Favourite quote: If your dreams don’t scare you, they are not big enough

Favourite country: UAE

The biog

Favourite car: Ferrari

Likes the colour: Black

Best movie: Avatar

Academic qualifications: Bachelor’s degree in media production from the Higher Colleges of Technology and diploma in production from the New York Film Academy

Results

United States beat UAE by three wickets

United States beat Scotland by 35 runs

UAE v Scotland – no result

United States beat UAE by 98 runs

Scotland beat United States by four wickets

Fixtures

Sunday, 10am, ICC Academy, Dubai - UAE v Scotland

Admission is free

Sreesanth's India bowling career

Tests 27, Wickets 87, Average 37.59, Best 5-40

ODIs 53, Wickets 75, Average 33.44, Best 6-55

T20Is 10, Wickets 7, Average 41.14, Best 2-12

SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FOLD%204
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Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

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MO
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if you go

The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow. 
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes). 

Spare

Profile

Company name: Spare

Started: March 2018

Co-founders: Dalal Alrayes and Saurabh Shah

Based: UAE

Sector: FinTech

Investment: Own savings. Going for first round of fund-raising in March 2019

BMW%20M4%20Competition
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.0%20twin-turbo%20inline%20six-cylinder%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20eight-speed%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E503hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20600Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20from%20Dh617%2C600%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%0D%3C%2Fp%3E%0A
The Buckingham Murders

Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu

Director: Hansal Mehta

Rating: 4 / 5

What went into the film

25 visual effects (VFX) studios

2,150 VFX shots in a film with 2,500 shots

1,000 VFX artists

3,000 technicians

10 Concept artists, 25 3D designers

New sound technology, named 4D SRL

 

UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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Updated: January 27, 2022, 9:17 AM