Initial estimates suggest that easyJet will have cut more than 4,000 flights in the three months to June and plans to more than double that number in July, August and September. EasyJet CEO Johan Lundgren said: “In conjunction with airport ceilings, we are taking precautionary measures to increase resilience for the rest of the summer, including a series of further flight consolidations at affected airports, alerting customers and “The vast majority will be booked again on alternative flights within 24 hours.” Otherwise, the FTSE 100 is going to open slightly higher after a poor performance last week.

5 things to start your day with

  1. Buyers with poor credit history could be frozen by “buy now, pay later” programs.
  2. The EU conspiracy to punish the City of London brings boomerang The Brussels campaign to transfer profitable businesses from the city to the continent has so far had little effect.
  3. Britain’s manufacturing heart is in crisis amid a supply crisis The West Midlands are struggling more than any other part of the country to return to pre-pandemic size.
  4. Johnson urges to cut energy tax as Germany turns to coal The German government will pass emergency laws to reactivate coal plants as Europe takes action to tackle reduced energy supplies from Russia.
  5. Airlines are using the post-Brexit gap to bring in foreign workers Airlines are borrowing aircraft registered in the EU under so-called wet leasing agreements as they face some of the worst staff shortages on record.

What happened overnight

Asian markets fell again on Monday and oil prices extended their losses amid growing fears that the central bank’s moves to curb sparking inflation would cause a recession. Tokyo, Hong Kong, Shanghai, Sydney, Singapore, Seoul, Taipei, Jakarta and Wellington were all in the red.

He is coming today

Full year results: BMO Global Smaller Companies; Transaction Statement: Associated British Foods, SThree; Finance: Interest rate decision (China), Rightmove housing price index (United Kingdom), Chicago Fed (USA) National Activity Index, Producer price index (Germany)