easyJet’s current uncertainty masking long-term opportunity, says broker
The broker also said recent weakness meant the current share price of the budget carrier was an “attractive entry point” for investors
Company
easyJet PLC
LON:EZJ
EasyJet is engaged in the provision of a low-cost airline service on short-haul and medium-haul point-to-point routes principally within Europe.
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easyjet shifts focus to Europe as UK travel recovery stalls
Two-thirds of bookings currently originate from within Europe compared to 50:50 normally
Holiday bookings surge as government eases amber list rules
“In the next couple of weeks I’ll be able to come forward and say more about other locations in the world.”
Johnson offers airlines hope in spite of 'extra precautions' warning
The EU’s digital Covid certificate came in to effect today
EasyJet can spring recovery surprise, suggests Credit Suisse
Meaningful intra-EU bookings can have a significant impact on reducing debt
End to quarantine for vaccinated travellers under consideration, says Hancock
An announcement might come as soon as Thursday according to the reports
easyJet and other budget carriers to benefit from rival cost-cutting, says Citi
Analysts said the orange and white liveried carrier is particularly poised to take advantage of "retrenchment” at Franco-Dutch airline Air France-KLM and German carrier Lufthansa
Portugal gets extra flights as Brits rush home to beat quarantine deadline
Portugal’s status on the government’s traffic light system was changed from green to amber on Thursday
Airlines hit as Portugal loses green list status
Shares in IAG dropped 5.5% to 197.8p, Ryanair 3.8% to €16.51 and easyJet 6% to 949p.
easyJet says UK government guidance on international travel is confusing
The debate continues as transport secretary Grant Shapps said people should "common sense"
easyJet looks to “flex up” to cater for pent-up demand for holidays
The airline sees capacity rising in June though passenger numbers for the third quarter are expected at around 15% of 2019 levels
Airlines start the week on the back foot after UK’s green list for international travel underwhelms
A City broker said the "extremely cautious approach so far does not bode well"
easyJet expects most EU countries to be on UK's 'green' travel list next month
The budget carrier said its losses for its first half are expected to be lower than predicted despite an almost 90% decline in passenger numbers as the COVID-19 pandemic and travel restrictions collapsed demand
Airlines show inconsistent reactions amid confusion on international travel following Prime Minister’s statement
British Airways owner IAG, TUI and Wizz Air were on the rise despite the lack of clarity on government guidelines
Investors (and holidaymakers) being overly optimistic about 2021 flight rebound, says Citigroup
The recovery of demand will be “splintered and truncated”, and cash burn for the airlines will persist “to greater levels than expected”, the analysts reckon
Slow vaccine rollout to hit low-cost airlines recovery, says JP Morgan
Analysts trimmed target prices for easyJet, Ryanair and Wizz air because of the continued cash burn
easyJet expects capacity to drop by 90% in second quarter; cash burn £40mln per week
The airline remains flexible to meet consumer demand whenever it picks up
easyJet, Wizz Air, Diageo feature in Thursday’s busy diary
It promises to be a busy end to January, with EasyJet, Wizz Air, Diageo, TalkTalk, and Tate & Lyle among those in the diary.
easyJet flags 250% summer bookings surge in Holidays arm
The budget carrier hopes this consumer confidence will translate into pent-up demand once restrictions are lifted
easyJet secures £1.4bn loan facility to ride out pandemic turbulence
The budget carrier said the additional cash will “significantly extend and improve” its debt maturity profile and strengthen its balance sheet by increasing liquidity levels
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Brexit and retail news may revive quiet pre-Christmas Wednesday
The schedule for 'Christmas Eve Eve' remains rather quiet unless UK and EU negotiators wrap up a deal, while the market is still awaiting to hear on the future of collapsed fashion group Arcadia
easyJet agrees aircraft deferral with Airbus
“In this period of uncertainty, this flexibility is even more valuable, as it will enable us to quickly flex our fleet size in response to customer demand”
easyJet, Ryanair and Wizz Air targets hiked as Morgan Stanley turns positive on demand for air travel
The bank said they expected the rebound in air travel will be “strong once travel restrictions are lifted”, although they cautioned that volumes were unlikely to return to 2019 levels by next summer
easyJet up to buy as Deutsche Bank says low cost airlines can emerge stronger from crisis
The bank said the FTSE 250 carrier was looking to build on changes that were afoot in the industry before the pandemic, and as such, they saw “significant opportunities for the proposition and cost base to be improved”
easyJet to charge more to use overhead lockers
From February 10 onwards, all customers will be able to bring onboard an underseat cabin bag for free but overhead luggage will cost more
EasyJet says searches for flights and holidays have tripled this week
From the middle of next month, people arriving in the UK can also cut their quarantine to five days from 14 if they test negative for COVID-19
Global airlines need another US$80bn to survive COVID-19 says trade body
Global airlines have already received US$160bn in financial support
easyJet descends to hold as Berenberg says cash burn offers more scope for disappointment
The broker also said the budget airline's shares were now "fairly valued" after a recent surge following news of coronavirus vaccines
EasyJet slumps to £1.2bn full-year loss after flights halve
During the pandemic, the airline has raised £3.1bn and its net debt position is now £1.1bn
easyJet cuts winter capacity again, raises US$169.5mln with sale and leaseback
The airline looks to strengthen its balance sheet ahead of a tough few months
easyJet raises £305mln with sale, leaseback of nine aircraft
The company is looking to strengthen its balance sheet ahead of the winter, when it plans to fly at only 25% of planned capacity
Market gives lukewarm response to government plans to cut travel quarantine period
The test would mean people waiting a week and, if they are clear, getting an early release.
easyJet to swing to massive full-year loss, fly at only 25% of planned capacity
In the year to September 30, 2020, easyJet's loss before tax is expected to be £815mln-£845mln, compared to the £427mln profit recorded a year earlier
Is it time buy shares in the budget airlines? This top-rated brokerage gives its call
“In the current financial year we expect larger losses than we previously modelled,” JP Morgan Cazenove said in a note to clients in which it reduced earnings per share forecasts for the next two years by 31% and 10% respectively
easyJet poaches TUI executive for chief financial officer role
Kenton Jarvis is replacing Andrew Findlay, who announced his departure in May
easyJet cuts capacity as customer confidence plummets amid travel restrictions
The budget carrier now expects to fly slightly less than the 40% of planned capacity for the three months to December
easyJet lands final aircraft sale and leaseback deal
The final transaction saw five Airbus A321neo planes bought and leased back for around £203mln in cash
Airlines flying higher as easyJet, Ryanair and Wizz Air increase summer capacity
Sun-seekers have provided an unexpected boost to easyJet’s performance, analysts observed
EasyJet and Wizz Air expand schedules amid new quarantine restrictions
Fellow budget airline Wizz Air said it flew at 74% of capacity for July, up from 25% in June
Travel shares sink after UK imposes quarantine on Spanish trips
“It shows the clear risks to the travel industry that its recovery will not be a smooth ride,” an analyst said
easyJet is now a ‘buy’ priced at an “extreme” discount says Berenberg
“We expect easyJet’s Q3 interim management statement to highlight slow demand progress," Berenberg's analysts said
Analysts see significant coronavirus second-wave risks for airlines
JPMorgan is wary of the unpredictable response of European governments to a second wave, while UBS's research shows most Britons will not travel abroad this summer
easyJet founder publishes further questions for chairman regarding Airbus deal
Haji-Ioannou has been battling with the board to scrap a £4.5bn aircraft order he says would drive the company’s finances into the ground
easyJet to shut bases at Stansted, Southend and Newcastle
The airline warned a month ago that 30% of its 15,000 staff were at risk
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FTSE 100 closes ahead as markets shake off last week's losses
Britain's blue-chip benchmark finished up over 66 points, or 1.08%, at 6,225
easyJet agrees £206mln sale of six aircraft amid plans to strengthen balance sheet
The aircraft will be sold to SMBC Aviation Capital, which will be the airline's preferred partner for other sales
Easy money and Easyjet: equity investors are likely to remain a real force in the market, as long as government stimulus continues to underpin everything
Equity investors are the latest source of finance to be tapped by Easyjet, but will they be the last?
EasyJet raises £419mln to give it one of the 'strongest balance sheets in the industry'
Customers choosing to rebook or take a voucher have meant cashflow has been slightly better than its estimate
easyJet defers Airbus aircraft deliveries by five years with £95mln extra charge
The extra charge reflects inflation in labour and material cost
easyJet loses two more directors
Neither of those leaving were subject of founder Stelios Haji-Ioannou's ire last month
Coronavirus effects knock easyJet and Carnival out of FTSE 100 in reshuffle
The impact of the pandemic has resulted in four demotions from the blue chip index and another nine from the FTSE 250
easyJet to resume flights on 75% of routes by end August
The airline will operate at around 30% of its normal capacity between July and September
Airlines fly higher on reports of softer quarantine rules
Tour operators TUI and On The Beach were also higher
EasyJet and Bodycote job cuts could be cusp of further coronavirus wave
Around one million companies are currently using the furlough scheme, with a survey finding that around a quarter saying they cannot afford to pay their staff
easyJet to cut 30% of staff as it predicts slow recovery from coronavirus crisis
Air traffic won’t recover fully from coronavirus disruption until 2023, the airline predicted
easyJet finance head resigns after seeing off Stelios attempt to remove him
He will stay with the airline until May 2021 and said he was grateful to the shareholders who supported both him and his fellow directors
EasyJet founder Stelios loses vote but warns 'will never stop our quest'
Shareholders vote to keep chairman, CEO and CFO in place
easyJet says to restart flights on June 15
Initial flights will comprise mainly domestic routes in the UK and France.
Easyjet says details of nine million customers hacked in cyber-attack
The hack comes at a difficult time for the airline, which has grounded most of its fleet due to coronavirus-related travel restrictions.
easyJet founder offers up to £5mln bounty for information to terminate Airbus deal
Stelios Haji-Ioannou is looking to stop a deal to buy 107 Airbus aircraft for £4.5bn, claiming it would drive the company into insolvency
Archive
Airlines tumble as analysts cut forecasts after Boris Johnson's speech
Credit Suisse analysts slashed their target price by more than a fifth to 746p as they now forecast passenger numbers will fall 92% in the second half of the year
Airlines have 'too many planes' says Warren Buffett
The Oracle of Omaha's reasoning may provide extra ammunition for Stelios Haji-Ioannou's argument with easyJet
Virgin Atlantic will not survive without government support, Branson says
The billionaire has offered his private Caribbean island as collateral
EasyJet founder Stelios calls for removal of CEO and chairman of “aircraft parking lot”
“There is no way the demand for passenger flying in 2021 will be the same as 2019”
EasyJet ups borrowing while burning £160mln per month from coronavirus grounding
The budget airline has now secured close to £2bn in extra cash since the outbreak first hit the travel industry
EasyJet spat continues as Stelios refers airline to FCA over Airbus deal
“If the FCA does not force the scoundrels to call a shareholder vote on new deal with Airbus, easyGroup will not hesitate to seek a judicial review”
EasyJet PLC founder calls meeting to remove finance head Findlay
On Friday, EasyJet rejected a requisition to remove non-executive director Andreas Bierwirth
easyJet plans to up cash reserves to £2.3bn by Thursday
The budget carrier said it has also reached an agreement with the aircraft pilots union, BALPA, on furlough agreements for its pilots, effective from 1 April
EasyJet gets meeting requisition as Stelios ups Airbus order pressure
Ioannou claims the US$4.5bn Airbus order, puts the company’s survival in question in the current environment.
easyJet grounds fleet and responds to Airbus order demands from Stelios
It was a turbulent day for the airline industry, as Virgin Atlantic also asked the government for an emergency loan
easyJet gets double upgrade to ‘buy’ from UBS after share price slump
A rash of flight cancellations and a fall in demand due to the coronavirus outbreak have pushed shares in the carrier down by over 30% since the start of the year
Fears grow for airlines as trade body ups estimate of coronavirus cost four-fold
“These are extraordinary times.” says director general Alexandre de Juniac
Coronavirus disruption pushes HSBC to trim targets for easyJet, Ryanair, IAG and Wizz Air
The investment bank said demand for air travel across Europe had “weakened broadly” since the disease arrived on the continent earlier this year
easyJet descends as it halts some Italian flights amid coronavirus outbreak
The airline is also planning budget cuts, pay freezes and offering unpaid leave to staff as part of its effort to reduce the impact of the outbreak on its bottom line
Archive
Coronavirus share price contagion starts to spread
A look at some of the day's major movers on Monday.
Archive
Power Metal rises as Paul Johnson ups his stake again
A look at some of the major movers in London on Monday
EasyJet expects smaller first-half loss despite cost surge
Passenger numbers were up 2.8% to 22.2mln in the first quarter as the number of seats rose 1% to 24.3mln and aeroplanes were 91.3% full
Archive
FTSE 100 closes lower as pound strengthens along with fears about China virus
FTSE 100 closed the afternoon session down 40.74 points at 7,610.70, weighed on by big miners
Archive
EasyJet en route with update, Dixons Carphone to report on reboot
The World Economic Forum meeting at Davos is scheduled to see a speech from US president Donald Trump
Hiscox and Fresnillo leave FTSE 100, while Centrica and Kingfisher sweat
Changes in the latest FTSE Russell review included promotions for Helios Towers, C&C Group and LXi REIT
easyJet, IAG and Ryanair targets hiked as Credit Suisse takes more positive view on sector prospects
For easyJet, Credit Suisse said it expected the orange and white carrier to deliver revenue per seat growth “at the upper end of the low-mid-single-digit growth guidance” for the first half of 2020
easyJet set to return to the FTSE 100 while Hiscox faces demotion
The promotion for easyJet will mark a return to form following its exit from the top table in June, while Hiscox has seen its share price hammered as natural disasters bite into its profits
EasyJet shares have reached cruising altitude, reckons Berenberg
October data points to an increase in airline fares after three straight quarters of declines, but analysts reckon this is already factored in by the market
EasyJet plans for low passenger growth after profits fall
The budget airline said revenue per seat in the first half should increase by “low to mid single digits”, with costs per seat up “low single digits” for the full year
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FTSE 100 closes in the green but Wall Street generally lower as trade deal hopes fade
The UK index of leading shares closed up around 16 points at 7,323 on the day
EasyJet aims for steady landing, Melrose looking to improve
Storage company Big Yellow is also releasing half-year results, with analysts wondering if reduced activity around the Brexit date will have knocked the company again
easyJet buys Thomas Cook’s airport slots for £36mln
The new slots comprise 12 summer pairs and eight winter pairs at Gatwick, as well as six summer pairs and one winter slot at Bristol airport
EasyJet profits to land at better end of guidance
Annual profit before tax is expected to fall 25%-27% to between £420mln and £430mln
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FTSE 100 closes in the red, pound takes a beating on stalled Brexit talks
Merkel has yet to respond to the UK government's claims that the Republic of Ireland should have a veto on Northern Ireland leaving the customs union
Archive
EasyJet numbers to land amid industry turbulence
Eyes peeled also for the quarterly reports by Electrocomponents and Robert Walters
Archive
Will Hargreaves be hit by Woodford, is GVC Holdings eyeing more deals?
Also in the week ahead, there are updates expected from retailers Dunelm, N Brown and Quiz
easyJet could be acquisition target after Brexit, says Kepler as it cuts to ‘reduce’
The French bank also predicted a 20% drop in pre-tax profits for the budget airline in 2020 as higher fuel costs and slowing capacity growth began to bite
easyJet flies higher as it insists full-year profits will be as expected
In the run-up to today’s third-quarter update, analysts from a couple of big-name banks had speculated that easyJet bosses might be forced to lower their forecasts
Investments and investor services
FTSE 100 joins other global markets to head lower as trade fears linger
The UK's blue-chip benchmark index closed out around 42 points lower at 7,493
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Easyjet profit warning and Royal Mail's turnaround update eyed
Along with easyJet, there are also company updates due from Royal Mail and Anglo American, plus UK retail sales data
Investments and investor services
FTSE 100 closes higher on trader hopes of Chinese stimulus
The UK's premier share index finished almost 26 points higher at 7,531, while FTSE 250 gained over 32 points at 19,584
Archive
easyJet tipped to warn on profits amid challenging short-haul airlines market
It looks set to be a busy week of corporate announcements and UK economic data
Berenberg upgrades easyJet to ‘buy’ as it predicts pick-up in fares
Berenberg expects short haul carriers to limit capacity growth over the coming year, which should help to prop up ticket prices
HSBC cuts both easyJet and British Airways owner IAG to ‘reduce’ from ‘hold’ in cautious sector review
The global bank’s analysts said: “With the March quarter results, European low-cost carriers and tour operators offered quite cautious revenue commentary"
Archive
Ted Baker tumbles to seven-year low as HSBC slashes target
A look at the day's major movers, including Ted Baker, IAG, easyJet, Bagir, Blue Prism, EVR, Blackbird, Nu-Oil & Gas, Anglo Asian Mining and Petrel Resources