Low-cost airline Easyjet will reduce its capacity expansion for 2020 to keep ticket prices up and to manage demand, which is considered uncertain given the weakening European growth, Bloomberg News reports.

The capacity increase for 2020 is expected to be at the lower end of the historical range of 3-8 percent. This would represent a decline from the 10 percent capacity increase that occurred in the 12-month period to 30 September 2019, according to Easyjet.

According to the airline's Swedish CEO Johan Lundgren, the booking situation for the first half of 2020 is "reassuring" and slightly better than at the same time last year.

For the 2018/19 financial year, which ended September 30, profit before tax was £427 million, equivalent to approximately SEK 5.3 billion. Turnover amounted to £6.4 billion, equivalent to SEK 79.7 billion.

Source: Nyhetsbyrån Direkt