EasyJet-6
Venice is predominantly leisure traffic. And access is severely restricted for vacation travel by Covid measures at this time. The cruise industry - a major factor at Venice - is likely to be the very last sector to return to (a much reduced) "normal". I would speculate that cruises will operate at a fraction of 2019 volumes until well into 2022 at best. So given the need to reduce exposure in the short-term, it makes sense for EasyJet to cut there until business can return more fully. Venice is not alone in facing cutbacks - some bases have been closed, others face reductions too. But one particular challenge for carriers serving Northern Italy is that it is relatively easy for German, French, Benelux tourists to drive there in their own vehicles. And many may choose to do this given the fear of flying in a Covid world - even if we in the industry can point to mitigating measures and low incidence of flight-induced infections. For much of the public, the trust just isn't there yet. Confidence may be slow to return. One advantage of the UK market (from an airline perspective) is its island status. If one is travelling to Italy, then driving from the UK implies an expensive ferry or Euroshuttle (rail) crossing and a very lengthy drive with overnight paid accommodation likely required in both directions. So UK-Italy routes should perform more strongly than those serving more 'drivable' overland jurisdictions.