Budget airline easyJet has announced it has grounded its entire fleet of 344 aircraft due to the coronavirus pandemic.
The airline, based in Luton, said the move will 'remove significant cost' as the aviation industry struggles to cope with a collapse in demand caused by the outbreak of the virus.
Airline bosses insisted it “maintains a strong balance sheet” and revealed it is in “ongoing discussions with liquidity providers”.
EasyJet also announced it has reached an agreement with union Unite on furlough arrangements for its cabin crew.
The deal will be effective from Wednesday for a two-month period
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It means cabin crew will be paid 80% of their average pay through the Government job retention scheme.
EasyJet chief executive Johan Lundgren said: “I am extremely proud of the way in which people across easyJet have given their absolute best at such a challenging time, including so many crew who have volunteered to operate rescue flights to bring our customers home.
“We are working tirelessly to ensure that easyJet continues to be well positioned to overcome the challenges of coronavirus.”
The airline added it has operated more than 650 rescue flights to repatriate people stranded due to the virus.
The last of the flights took place on Sunday.
EasyJet pledged to work with governments to “operate additional rescue flights as requested”.
