Transportation • Air Transportation & Traffic, Flying

EasyJet raises $520 million in share sale

EasyJet raised about $520 million in a share sale, almost 15% of its existing share base, to enable the company to survive for many more months even if air travel does recover in a slower pace than predicted.

The company has said it does not expect passenger demand to come back to pre-pandemic levels until 2023 and is planning to cut up to 4,500 jobs.

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Card reviewed by: @christoph