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Here’s Why EasyJet Share Price Plunged 8% on Tuesday

Analyst Team trader
Updated 22 Sep 2020

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Shares of easyJet PLC (LON: EZJ) fell around 8% today after the airline said it has slashed capacity for the final quarter of this year amid the new quarantine restrictions

The United Kingdom added seven Greek islands to the mandatory quarantine list while some other European countries java moved to tighten restrictions. Therefore, easyJet now expects to fly slightly less than the 40% of planned capacity for the ending three months of the year.

“We know our customers are as frustrated as we are with the unpredictable travel and quarantine restrictions,” said chief executive Johan Lundgren.

“We called on the Government to opt for a targeted, regionalised and more predictable and structured system of quarantine many weeks ago so customers could make travel plans with confidence.”

easyJet stock price tumbled 8% after cancelling flights September 2020

easyJet share price fell as much as 8% early this morning to trade at the 3-week low below the 600p handle.

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