easyJet

Sherburnflyer92

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May 7, 2011
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37,000FT - soon!
Good news for the airline. They do have a lot riding however on this Summer. Allegedly they've spent quite a bit in the way of infrastructure, hotel stock etc for their holiday side of the business all for S20, which didn't happen, so really start need to claw that back this summer.

They are a good airline and very much needed and hope that they do bounce back. This is good news however.
 

TheLocalYokel

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Jan 14, 2009
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Yes
easyJet has just reported on its key Christmas quarter. These are some of the headlines.

+ Just 10% of services are being operated in the current quarter

+ There is pent-up demand ahead after March but the airline admits customers are booking late because of Covid uncertainty

+ The airline has a record number of aircraft at Gatwick

+ First quarter revenue including Christmas earnings fell by 88% to £165 million with passenger numbers down 87% on the same period last year

+ Cost-cutting initiatives have helped reduce cash burn to £40 million per week in a 'fully grounded scenario'.

+ Company shared fell by 4% on the news but had recovered to finish the day up 4.6%.

One financial analyst believes that the issues facing easyJet go well beyond cash management. Their rivals Ryanair and now Wizz Air have lower cost bases which has enabled them to be more aggressive in putting back capacity online which may find easyJet caught 'on a dangerous middle ground' between more aggressive low-cost carriers and legacy carriers.

 
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