British low-cost airline Easyjet took a billion-dollar hit in the quarter ending in June due to staffing shortages and limited capacity at airports, according to an interim report.

Revenue rose to £1.76 billion, slightly more than expected. But the result for the quarter – the third in Easyjet’s broken financial year – was a pre-tax loss of £114 million.

The results for Easyjet, with Swede Johan Lundgren as CEO, were weighed down by costs resulting from the traffic disruptions of 133 million pounds (just over 1.6 billion kronor). The company, with bases at London Gatwick Airport and Schiphol Airport in Amsterdam, is particularly exposed to the disruptions.

During the recently started fourth quarter, Easyjet expects capacity utilization to be around 90 percent of the level during the corresponding quarter of 2019.

Source: TT-DI.SE