Luton-based easyJet reports first annual loss amid coronavirus pandemic

The budget carrier posted a loss of £1.27bn for the tax year before the end of September, with revenue slashed by more than half.

This compared to profits of £430m the year previously.

EasyJet stated it expects to fly at just 20% of normal capacity into next year, but bookings reportedly jumped by almost 50% last week after news broke of a possible vaccine

The airline has welcomed the news of several effective vaccines potentially around the corner.

Appearing on BBC Radio 4's Today programme, easyJet chief executive Johan Lundgren said: "I don't think it's only about the vaccine, I think it's also about the fact that we need to have testing in place, we need to have also refined development of the quarantine system.

"We know that people want to travel. On the news of the vaccine last Monday, bookings were up close to 50%, so it just gives evidence to the fact that any good news that comes out of here makes people more confident making bookings going forward."