I have not personally seen detailed financial updates from many companies yet but easyJet released this on Thursday:
“We estimate that our operating costs burn is in the region of £30-40 million per week, whilst the fleet is grounded. This compares to circa £125 million when flying a full schedule.”
“Upon closure of all these funding initiatives, we expect to have generated total additional liquidity of c.£1.85-£1.95bn leading to a notional cash balance of circa £3.3bn.”
“We have run scenario analysis assuming that our fleet remains fully grounded for 3 months, 6 months and 9 months,”
“This analysis has shown that we have sufficient cash reserves to remain liquid across a number of scenarios:
o During a 3-month grounding easyJet would use around £1.2bn in cash;
o During a 6-month grounding we would use around £2.2bn in cash;
o During a 9-month grounding we would use around £3.0bn in cash.”
Full report here:
Trading Update for Six Months ending 31 March 2020
CP