May 28, 2020 / 7:43 AM / 3 months ago

EasyJet not planning equity raise, doesn't rule it out in future: CEO

FILE PHOTO: Deserted Easyjet check-in desks are seen at Nice international airport during the outbreak of the coronavirus disease (COVID-19) in Nice, France, May 20, 2020. REUTERS/Eric Gaillard

LONDON (Reuters) - Britain’s easyJet (EZJ.L) is not planning on raising new equity currently but its chief executive did not rule it out in future as the low-cost airline seeks to survive the coronavirus pandemic which has wiped out air travel.

“There’s no plans on raising any equity today but that is something that we will continue to look into as a whole range of additional things that we are considering,” Chief Executive Johan Lundgren told reporters on Thursday.

The airline announced earlier on Thursday that it would seek to axe up to 30% of its staff to survive the crisis. EasyJet is also in talks with airports to try to get cheaper deals, with the CEO warning that some bases could be closed.

“We are going to look to do whatever we can to optimise the network. And that means that we also cannot exclude that there will be base closures,” he said.

Reporting by Sarah Young; editing by Kate Holton

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