The package holiday firm flew just 1.3m passengers last year as a result of widespread travel restrictions, down 91 per cent of the 14.6m it flew the year before.
Due to the confusion surrounding international travel, the
It will not fly to amber list destinations until 19 July, when it is expected that Brits who have been double vaccinated will be able to skip quarantine.
Despite the whopping loss, which saw it swing into the red from a profit of £264m the year before,
That is largely down to the additional £1bn of funding the company has raised over the last year.
As a result, it has a cash position of £1.4bn, even after processing the same amount in customer refunds since the pandemic began.
“With the majority of the
“However, it still looks that there may be some uncertainty regarding government restrictions, and a complete return to normality could be some way away.”
Shares in the holiday group dropped 0.9 per cent today.
The post
© City AM, source