Budget airline EasyJet, which flies from eastern region airports, has reported the first loss in its 25-year history.

The group’s pre-tax loss for the year to September 30 comes after passenger numbers halved to 48.1 million as the pandemic crippled the aviation industry.

It warned it expects to fly no more than around 20pc of planned services in the first quarter of its year to next September as a relentless second wave of the pandemic batters demand. This follows recent proposals to reduce its workforce by up to 30pc and close eastern region bases Stansted and Southend.

EasyJet’s losses compare with profits of £430 million the previous year.

Johan Lundgren, easyJet chief executive, said the group had responded “robustly and decisively” to the crisis and cheered “welcome news” on a possible Covid-19 vaccine.