Page 1

20 May 2021 easyJet's H1 2021 results are in line with expectations and it maintains significant liquidity while also delivering Q2 cash burn¹ slightly better than guidance . easyJet plc Results for the six months ending 31 March 2021 easyJet is encouraged by the reopening of travel across much of Europe and will maximise opportunities for European flying . easyJet is the largest operator from the UK to Green list countries and is looking forward to taking customers on a long - awaited holiday this summer . Commenting on the results , Johan Lundgren , easyJet Chief Executive said : " With leisure travel taking off in the UK again earlier this week where we are the largest operator to Green list countries and with so many European governments easing restrictions to open up travel again , we are ready to significantly ramp up our flying for the summer with a view to maximising the opportunities we see in Europe . We have the ability to flex up quickly to operate 90 % of our current fleet over the peak summer period to match demand . " We know there is pent - up demand - we saw this again when Green list countries were released and added more than 105,000 seats - and so we look forward to being able to help many more people to travel this summer supported by our industry - leading flexible customer policies which means they can book with confidence . " Over the past six months , we have successfully undertaken a major restructuring and cost reduction process alongside maintaining an investment - grade balance sheet with significant liquidity and managing our cash burn¹ better than expectations . The has delivered results in line with guidance . Our agility , trusted brand and famous value means we are well placed to bounce back in the recovery . " Summary In the six months ending 31 March 2021 , easyJet operated a disciplined flying programme whilst continuing to deliver a major restructuring and cost reduction programme ● ● Passenger numbers² for the six months ending 31 March 2021 decreased by 89.4 % to 4.1 million ( H1 2020 : 38.6 million ) Capacity³ decreased by 85.0 % to 6.4 million seats , representing 14 % of H1 2019 capacity levels ( H1 2020 : 42.7 million ) Load factor decreased by 26.6 percentage points to 63.7 % Total revenue decreased by 90 % to £ 240 million ( H1 2020 : £ 2,382 million ) with passenger revenue decreasing by 91 % to £ 170 million and ancillary revenue decreasing by 87 % to £ 70 million Group headline costs excluding fuel decreased by 59 % to £ 844 million ( H1 2020 : £ 2,041 ) , driven by a decrease in capacity flown and the material savings achieved across many areas of the business from easyJet's major cost - out programme . We recorded a £ 24 million credit from foreign exchange , related to