EasyJet cuts thousands of summer flights – live updates Business

ghello. EasyJet is cutting thousands of flights this summer as it grapples with severe staff shortages which have caused holidaymakers misery since Covid restrictions were lifted.

Early estimates suggest easyJet will have cut more than 4,000 flights in the three months to June and plans to more than double that number in July, August and September.

EasyJet chief executive Johan Lundgren said: “In addition to airport caps, we are taking preventative measures to increase resilience over the remainder of the summer, including a series of further flight consolidations in the airports concerned, by informing customers in advance and we expect the vast majority to book on alternative flights within 24 hours.

Elsewhere, the FTSE 100 is expected to open slightly higher after a poor performance last week.

5 things to start your day

1) Buyers with bad credit history could be barred from ‘buy now, pay later’ programs Lenders would be forced to carry out affordability checks and face tougher advertising rules under the government’s new proposals.

2) EU plot to punish City of London backfires Brussels’ campaign to move lucrative business from the City to the Continent has so far produced few results.

3) Britain’s manufacturing heartland in crisis amid supply shortages The West Midlands is struggling more than any other part of the country to regain its pre-pandemic size.

4) Johnson urged to cut energy tax as Germany turns to coal The German government will pass emergency laws to reactivate coal-fired power plants as Europe moves to deal with dwindling energy supplies from Russia.

5) Airlines use post-Brexit loophole to bring in foreign workers Airlines are borrowing EU-registered planes under so-called wet-lease arrangements as they grapple with some of the worst staff shortages on record.

What happened overnight

Asian markets fell again on Monday and oil prices extended their losses on growing fears that central bank measures to curb soaring inflation could induce a recession. Tokyo, Hong Kong, Shanghai, Sydney, Singapore, Seoul, Taipei, Jakarta and Wellington were all in the red.

coming today

Annual results: BMO Global Small Business; Commercial statement: Associated British Foods, SThree; Economy: Interest Rate Decision (China), Rightmove House Price Index (UK), Chicago Fed National Activity Index (US), Producer Price Index (All)