Company
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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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
“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”
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
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”
From February 10 onwards, all customers will be able to bring onboard an underseat cabin bag for free but overhead luggage will cost more
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 have already received US$160bn in financial support
The broker also said the budget airline's shares were now "fairly valued" after a recent surge following news of coronavirus vaccines
During the pandemic, the airline has raised £3.1bn and its net debt position is now £1.1bn
The airline looks to strengthen its balance sheet ahead of a tough few months
The company is looking to strengthen its balance sheet ahead of the winter, when it plans to fly at only 25% of planned capacity
The test would mean people waiting a week and, if they are clear, getting an early release.
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
“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
Kenton Jarvis is replacing Andrew Findlay, who announced his departure in May
The budget carrier now expects to fly slightly less than the 40% of planned capacity for the three months to December
The final transaction saw five Airbus A321neo planes bought and leased back for around £203mln in cash
Sun-seekers have provided an unexpected boost to easyJet’s performance, analysts observed
Fellow budget airline Wizz Air said it flew at 74% of capacity for July, up from 25% in June
“It shows the clear risks to the travel industry that its recovery will not be a smooth ride,” an analyst said
