EasyJet Warns of First-Ever Annual Loss — $1 Billion

U.K.-based low-cost carrier easyJet warned it's on track to report a loss of more than $1 billion for the year, its first-ever full-year loss. In an update to investors, CEO Johan Lundgren said passenger demand for the full year will be half of what the carrier had expected.

Lundgren reiterated a call for the U.K. government to provide more aid to the industry. "Aviation continues to face the most severe threat in its history and the U.K. government urgently needs to step up with a bespoke package of measures to ensure airlines are able to support economic recovery when it comes," he s