Due to the impact of COVID-19 customer numbers for the year ending 30 September 2020 decreased by 50.0% to 48.1 million (2019: 96.1 million)
Capacity decreased by 47.5%
Total revenue decreased by 52.9% to £3,009 million (2019: £6,385 million)
Total airline revenue per seat decreased by 10.6% to £54.35 (2019: £60.81), reflecting growth of 10.2% in H1 and contraction of 27.5% in H2. Airline revenue per seat at constant currency for the year ending 30 September 2020 decreased by 10.3%
Headline airline cost per seat excluding fuel at constant currency increased by 30.2% to £56.33, mainly due to the volume impact of the H2 capacity decrease. Headline airline cost per seat increased by 21.7% to £69.03 (2019: £56.74)
Headline loss before tax of £835 million (2019: £427 million profit), within the guidance range of £815 to £845 million
So while the numbers are stark and show the scale of the impact that the pandemic has had, we have a lot to be proud of in our handling of the crisis, which is reinforced in retaining our strong customer satisfaction scores.
We continue with a great deal of uncertainty ahead which is why we haven’t given any forward looking financial guidance. What we have said is:
We don’t expect to fly more than 20% of planned capacity for Q1 2021
We continue with our disciplined approach to flying –only flying those lines that make a positive contribution
We retain our flexibility to rapidly ramp up when demand returns - this is critical. The significance of this was demonstrated when we were able to add 180,000 seats in 24 hours, from all UK bases, after the quarantine was lifted for the Canary Islands in October
We must continue with our laser like focus on cost – so that we can tackle our debts as planned and rebuild the resilience of our balance sheet
We have a plan that will guide us through the coming years, as we recover from the effects of the pandemic, and we will bring this to life for you all over the coming months