EasyJet has lowered its expectations for the early summer season and now plans to operate just 15% of 2019 capacity in the three months to end-June, down from a projection of 20% last month. Announcing its results for the six months to end-March, the UK low-cost carrier says it now envisages ramping up its services from "June onwards", as fluctuating travel restrictions are pushing consumers to book even closer to the date of travel, a dynamic that has been evident throughout the pandemic. Changing travel restrictions risk hurting load factors into the summer, as EasyJet tries to juggle its capacity through adding and cancelling services in line with surging or collapsing demand. However, the airline does see strong pent-up demand for leisure travel emerging as the summer progresses, and is ready to hike its capacity to 90% of its current fleet should bookings lift off. It cites its rapid response to the release of the UK 'green list', allocating an additional 105,000 seats earlier this month. "With leisure travel taking off in the UK again earlier this week where we are the largest operator to green-list countries, and with so many European governments easing restrictions to open up travel again, we are ready to significantly ramp up our flying for the summer with a view to maximising the opportunities we see in Europe," states chief executive Johan Lundgren. "We have the ability to flex up quickly to operate 90% of our current fleet over the peak summer period to match demand." He adds that the carrier has undergone a major restructuring and cost-reduction programme over the past six months that has enabled it to manage its cash burn better than expectations. Passenger numbers declined by 89% in the winter season, to just 4.1 million. Seat capacity was cut 85% to 6.4 million, just 14% of the level of its first half in 2019, while load factor fell to 63.7%. Revenue declined 90% to £240 million ($339 million), and headline losses before tax rose to £701 million, from £193 million in the same period a year earlier. Investment firm Davy comments that the results are in line with expectations, but notes that EasyJet "is very dependent on peak summer booking". It expects the carrier to ramp up to around 70% of full fleet operations over the summer, rather than the 90% maximum cited by the carrier.

Thai Airways International's creditors have approved its rehabilitation plan at a 19 May meeting. "Among the creditors, those who hold 91.56% of the total debt of creditors who attended the meeting and casted votes, accepted the rehabilitation plan that the planner submitted to the official receiver on 2 March 2021 as well as three plan amendment petitions," the airline said in a 19 May filing to the Stock Exchange of Thailand. It adds that the three amendment petitions were proposed by the airline's rehabilitation planners as well as creditors Bangkok Bank and the Federation of Savings and Credit Cooperatives of Thailand. Thai's rehabilitation planners prepared the rehabilitation plan and as of 14 September, the planners comprise six individuals along with EY Corporate Advisory Services appointed by Thailand's Central Bankruptcy Court. The same filing also names five plan administrators, and among them, the airline's acting president Chansin Treenuchagron and independent director Pirapan Salirathavibhaga are also the airline's rehabilitation planners. The Central Bankruptcy Court has scheduled a hearing to consider the rehabilitation plan on 28 May. The creditors' meeting, initially scheduled for 12 May, was postponed by one week to 19 May at the request of 20 creditors, who represented more than one-tenth of the total debt of creditors who attended the meeting. The creditors had requested for the additional time to consider amendments and proposals to the rehabilitation plan. Thai submitted its rehabilitation plan on 2 March after being granted two one-month deadline extensions, the maximum allowed under Thailand's Bankruptcy Act.

Regional Express has agreed to pay a A$66,000 ($51,000) fine, in relation to charges by the Australian Securities and Investments Commission (ASIC) that it failed to disclose plans for domestic operations through appropriate channels last May. ASIC is Australia's integrated corporate, markets, financial services and consumer credit regulator. In a disclosure to the Australian Securities Exchange (ASX) dated 18 May, Rex said it received an ASIC infringement notice alleging it contravened section 674(2) of Australia's Corporations Act on 11-12 May 2020. The subsection stipulates that ASX-listed companies must lodge material information with the bourse prior to informing the public. The company says in the statement: "Rex maintains the position that it did comply with those obligations at all times and will continue to comply with these disclosure obligations. "Be that as it may, Rex has elected to comply with the infringement notice and pay the penalty of A$66,000 on a no-admissions basis." Under the act, this is not an admission of liability, Rex states, and cannot be regarded as a finding that the company has contravened the act. Furthermore, ASIC cannot take civil or criminal proceedings against Rex for the alleged contravention. Rex's plans to expand into domestic operations first emerged when deputy chairman John Sharp discussed them in an interview with local media Australian Financial Review, published on 11 May 2020. ASX then placed Rex in a trading halt on 12 May, before Rex addressed the matter in an ASX announcement dated 13 May. In relation to that, ASIC announced on 16 December a one-year restriction on Rex's fundraising, effective until 15 December 2021. During this time, the company cannot rely on reduced-disclosure rules and must issue a full prospectus to raise funds. Rex said on 17 December that it did not anticipate any other fundraising in 2021, and ASIC's restrictions do not impede its agreement with PAGAC Regulus Holding for A$150 million funding meant for its domestic operations, which on 1 March launched according to plan.