|Bid||726.60 x 0|
|Ask||727.60 x 0|
|Day's range||703.60 - 739.52|
|52-week range||410.00 - 1,570.00|
|Beta (5Y monthly)||1.62|
|PE ratio (TTM)||8.25|
|Earnings date||30 Jun 2020|
|Forward dividend & yield||0.44 (6.22%)|
|Ex-dividend date||27 Feb 2020|
|1y target est||1,479.74|
EasyJet <EZJ.L> and cruise operator Carnival <CCL.L> are set to lose their seat at the top table of British blue chips after the COVID-19 crisis knocked the value of their shares to below the threshold of London's prestigious FTSE 100 <.FTSE> index. Hard-hit by travel bans, the low-cost airline lost as much as two thirds of its market value during the peak of the pandemic crisis and despite a vigorous bounce-back, its market capitalisation was only ranked 125th based on Monday's stock market close in London. FTSE Russell, which will announce its quarterly shuffle of the FTSE 100 index on Wednesday, requires companies to be ranked at least 110th to be part of the blue-chip index.
British airline EasyJet <EZJ.L> said on Tuesday it will resume flying on about three-quarters of its routes by August, expanding the small number it said it would start flying this month but at a much lower frequency than last summer. The coronavirus pandemic has caused the air travel market to collapse and forecasts say it will remain smaller for years. Last week EasyJet, whose 337 planes have all been grounded since March, said it would cut staff and aircraft numbers to survive.
Q: Can one fly through London Heathrow from the US to other European destinations without being subject to quarantine? A: To the dismay of many in the British travel industry, as of June 8 visitors and residents arriving into the UK will have to self-isolate in one location for 14 days. Also among those exempt are those coming from Ireland, the Channel Islands and the Isle of Man, air crew, staff on the Eurostar and Eurotunnel, lorry drivers, diplomats and any UK resident who usually commutes to a job abroad at least once a week.
Major airlines on both sides of the Atlantic are cutting even more jobs as they struggle to cope with a plunge in air travel that will leave the airline industry much smaller than it was before the coronavirus pandemic and economic collapse. EasyJet said Thursday that it will cut up to one-third of its 15,000 employees. The London-based budget airline's CEO said he had no choice.
EasyJet will axe up to 4,500 jobs, or almost one third of its staff, the British no-frills airline said Thursday, as the coronavirus ravages demand for air travel. The carrier follows rivals British Airways, Ryanair and Virgin Atlantic in slashing thousands of jobs to save costs as the bulk of planes remain grounded despite easing of government lockdowns worldwide. "We are planning to reduce the size of our fleet and to optimise the network and our bases," EasyJet chief executive Johan Lundgren said in a statement.
European low-cost airlines are pressuring airports to slash charges in return for resuming flights, as the COVID-19 shutdown intensifies their race with traditional carriers to lower costs and win post-pandemic business. In letters shared with Reuters, Wizz Air <WIZZ.L>, Ryanair <RYA.I> and easyJet <EZJ.L> have demanded long-lasting fee discounts or waivers from airports, signalling that the lowest offers will win more returning traffic. Wizz Air, in a "request for proposals" from airports last month, indicated it was ready to shake up its business, flagging "significant shifts in network strategy resulting in capacity reallocation between airports".
More job losses Thursday (May 28) at European airlines. UK budget carrier easyJet says it will cut about 30% of its staff. That’s 4,500 posts. The airline had held out longer than local peers. Between them, Ryanair, British Airways and Virgin Atlantic have already announced 18,000 job cuts. Now easyJet says it too has to prepare for a shrunken air travel market. It’s also going to reduce its fleet, and is in talks with airports over cheaper deals. The CEO has warned that some bases could be closed. Investors welcome the moves, with easyJet shares up over 6% in early trade Thursday. Meanwhile Norwegian Air says its first-quarter loss widened to 332 million dollars. The news comes just days after the carrier completed a financial rescue that saw its creditors take control. Around 90% of its staff have been furloughed since March. A recovery plan published the following month sees it operating just seven planes for up to a year. It will then gradually build up to 120 aircraft by 2022.
European budget carrier easyJet and American Airlines both plan to cut large parts of their workforces as the global aviation industry struggles to cope with a near total halt to travel amid the COVID-19 pandemic. Easyjet said Thursday that it will cut up to a third of its 15,000 employees.
Britain's easyJet <EZJ.L> is not planning on raising new equity currently but its chief executive did not rule it out in future as the low-cost airline seeks to survive the coronavirus pandemic which has wiped out air travel. "There's no plans on raising any equity today but that is something that we will continue to look into as a whole range of additional things that we are considering," Chief Executive Johan Lundgren told reporters on Thursday. EasyJet is also in talks with airports to try to get cheaper deals, with the CEO warning that some bases could be closed.
EasyJet plans to cut up to 30 per cent of its 15,000-strong workforce as it becomes the latest airline to warn that the aviation industry faces a slow recovery from the upheaval wrought by coronavirus. EasyJet on Thursday also laid out plans to fly about 30 per cent of its normal capacity across July, August and September, which means taking a more cautious approach than budget rivals Ryanair and Wizz Air. Ryanair this month confirmed plans to resume flights in July at about 40 per cent of capacity, before ramping it up to about 60 to 70 per cent by September.
EasyJet <EZJ.L> will not fly to Italy if Rome prolongs social distancing rules on planes beyond June 15, the budget airline's chief executive said in a newspaper interview. "It would be impossible for companies to operate with only a third of the seats sold," Lundgren was quoted as saying by Corriere della Sera on Thursday. Lundgren said that if Italy were to extend the measure then easyJet would not fly there, adding "it would be harmful to the recovery: the country risks falling behind."
EasyJet is the latest airline joining the queue to cut jobs. Following similar announcements by Ryanair and British Airways, the low-cost airline on Thursday said it would shortly launch a consultation to reduce staff numbers by up to 30 per cent. Last year it employed 15,000 people. EasyJet said on Thursday that, in line with projections from the International Air Transport Association (Iata), it didn’t expect 2019 levels of demand to return until 2023 and would operate a smaller fleet to reflect that.
Britain's easyJet plans to cut up to 4,500 jobs and shrink its fleet to adjust to the smaller travel market which is forecast to emerge from the coronavirus crisis. EasyJet, which employs more than 15,000 people in eight countries across Europe, is moving later than others in announcing job cuts as a result of the coronavirus pandemic, which has brought airlines across the world to their knees. Most have been forced to cut jobs, including more than 15,000 in Britain, as they prepare for a market which is not forecast to return to 2019 levels until 2023.
— UN urgently appeals for $2.4 billion to help Yemen cope with war and virus. UNITED NATIONS — The U.N. humanitarian chief is urgently appealing for $2.4 billion to help millions in war-torn Yemen cope with the conflict and COVID-19, saying programs are already being cut and the situation is “alarming.” Mark Lowcock told a briefing Thursday that the U.N. has only received $516.6 million of the $3.4 billion it needs until the end of the year, amounting to just over 15%.
British low cost airline easyJet said chief financial officer Andrew Findlay plans to leave the company next year, in an announcement made just days after he survived an attempt by the airline's founder to oust him. Findlay, who joined easyJet as CFO in 2015, handed in his notice on Tuesday and is expected to stay on for a year until May 2021 under the terms of his contract. Shareholders threw their weight behind management's strategy to stick with the Airbus order on Friday, supporting Findlay plus easyJet's chairman, chief executive and another director in a vote forced by Haji-Ioannou.
EasyJet’s chief financial officer has announced plans to leave the low-cost airline next year, just days after he survived an attempt to oust him by its founder and biggest shareholder Stelios Haji-Ioannou. The budget carrier on Tuesday said Andrew Findlay, who joined easyJet in 2015 from Halfords, will leave in May 2021 after working out his 12-month notice period. It comes just days after Mr Findlay was one of four easyJet directors, including chief executive Johan Lundgren, to win backing from investors after an attempt by Sir Stelios to have them dismissed as part of his fight to get a multibillion Airbus aircraft order scrapped.
EasyJet founder Stelios Haji-Ioannou has lost his attempt to oust four directors, including the airline’s chairman and chief executive, following an investor vote on Friday. Sir Stelios, the low-cost airline’s biggest shareholder, was dealt the blow after investors voted against each of the four resolutions at a virtual extraordinary general meeting. Following the defeat, John Barton, chairman of easyJet, thanked shareholders for their support and said the board hoped “to be able to re-engage constructively with Sir Stelios”.
EasyJet founder Stelios Haji-Ioannou failed in his attempt to oust the airline's top three bosses on Friday, giving it a brief respite in its battle for survival during the coronavirus pandemic. With air travel brought to a halt and easyJet planes parked up around the world, Haji-Ioannou had stepped up his public campaign for management to scrap a $5.6 billion order for 107 new Airbus planes that he says they cannot afford. EasyJet said more than 99% of votes cast by independent shareholders backed the board.
EasyJet's <EZJ.L> board looks poised to win a shareholder vote on Friday and deal a blow to its founder and long-term critic over the British low-cost airline's plan to stick with a $5.5 billion plane order. Stelios Haji-Ioannou, whose family is easyJet's biggest investor with a 34% stake, wants to oust the CEO, finance chief, chairman and another director, arguing their plan for the airline to buy 107 new Airbus aircraft could bankrupt it. Three of the company's bigger investors, with a combined 15% stake, have backed Chief Executive Johan Lundgren, and he says he has spoken to about 45% of the shareholder base who have all given him their support.
Lufthansa is closing in on a rescue deal. It’s expected to see a 9.9 billion dollar state bailout. That will see Germany take a 20% stake in its flagship airline. Lufthansa has been in talks over the deal for weeks. The sticking point has been how much control to yield in return for help. On Thursday (May 21) the firm said the government would get two seats on its supervisory board, but only use its voting rights in exceptional circumstances. Lufthansa expects the deal to include waiving of future dividend payments, and limits on management pay. Reuters sources say the German government will make its final offer Thursday. A glimmer of hope for the sector, meanwhile, over at easyJet. The British budget airline - Europe’s second largest - says it will resume some operations from June 15. It will mainly be UK domestic flights and some services to France. EasyJet says passengers will have to wear masks on board, and there will be no food service. All planes will be subject to enhanced cleaning regimes. The airline hopes to gradually resume more flights.
British low-cost airline easyJet <EZJ.L> said it would restart a small number of flights on June 15, becoming the latest airline to plan for the return of European travel by making face masks mandatory onboard. EasyJet's planes have been grounded since late March when the novel coronavirus spread across Europe. The airline said it would restart primarily domestic flights in Britain and France, before adding other destinations.
British airline EasyJet on Thursday said it would return to the skies on June 15, with "a small number of flights", after grounding its entire fleet because of the coronavirus. EasyJet had grounded its entire fleet at the end of March. On resumption of flights, the airline's customers and crew will be required to wear masks, while EasyJet will carry out "enhanced cleaning and disinfection of" its planes.
EasyJet has announced plans to restart a small number of flights in the middle of June, which will initially involve the low-cost airline flying domestic routes in the UK and France. EasyJet’s plan comes as airlines and airports across the world are tentatively looking at resuming flights in the coming months.
British airline EasyJet on Tuesday said it had suffered a "sophisticated" cyber attack, uncovering names and travel details of about nine million customers, amid raised concerns over coronavirus-fuelled Internet hacking. "Since we became aware of the incident, it has become clear that owing to COVID-19 there is heightened concern about personal data being used for online scams," EasyJet chief executive Johan Lundgren said in a statement. The no-frills airline, hit also by an unprecedented collapse in demand as the virus grounds planes worldwide, added that credit card details of 2,208 customers were additionally accessed.