EasyJet defers new aircraft deliveries

EasyJet has agreed with Airbus to push back the delivery of new aircraft through to 2028 as it stems fleet expansion due to Covid-19 “uncertainty”.

The deferral will see 22 aircraft moved from 2022-24 to 2027-28.

Fifteen delivery dates between 2022-24 will additionally be moved to more closely match forecast seasonal requirements.

The changes will result in easyJet taking no deliveries in the 2021 financial year, eight in 2022, seven in 2023 and 18 in 2024.

Options have been retained to increase deliveries in 2023 to 30 aircraft.

The changes also result in a re-phasing of pre-delivery payment cash flows of the order book due to the later dates of delivery, the UK budget carrier said.

EasyJet chief executive Johan Lundgren said: “This latest amendment to our longstanding agreement with Airbus reflects easyJet’s significant fleet flexibility as well as the benefit of highly attractive aircraft pricing.

“In this period of uncertainty, this flexibility is even more valuable, as it will enable us to quickly flex our fleet size in response to customer demand.

“EasyJet’s unrivalled European network of number 1 and 2 positions in primary airports, strong liquidity and flexibility will enable us to capture pent-up demand as customers return to the skies.”

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