easyJet

Sherburnflyer92

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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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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.

 

Scottie Dog

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From today's Travel Trade Gazette:

Johan Lundgren, easyJet chief executive, said progress made since 2020 meant he was optimistic.



Speaking at World Aviation Festival Virtual, he said: “We are not at all looking at a summer like last year.”



Lundgren said the vaccine roll-out in the UK and other countries would facilitate travel. “That gives us a completely different stability.”



He said governments and the industry now had data and statistics “that were not there before”, which would flag up areas of concern and give the industry early warning of possible border closures.



“The UK is looking at producing a watch list to see where countries are headed so we don’t get a surprise,” he said.



“That’s down to the stats and facts that are there, so there’s no evidence we are heading for a summer like last.”



He predicted UK travellers would have access to most of Europe. “I have high hopes for a strong summer. I can’t see right now, with the developments taking place as we speak, with the roll-out of the vaccine, that there should be really any large number of countries not being in the green category.”



Lundgren said he was “suspicious” of digital passports but added: “We are not against it as such if it is there to exempt you from other restrictions.”



EasyJet was prepared even if this summer turned out to be difficult, he said, with £5.5 billion having been raised, £2.9 billion of which was readily available. Costs had also been cut and aircraft deliveries postponed.



Post-pandemic, Lundgren said easyJet would look for growth opportunities.



“We have taken new positions at Gatwick and have 71 aircraft there. Our strategy is to have better positions at core airports and we are keeping our eyes open for that.”
 

TheLocalYokel

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easyJet is concentrating on building up its European network to the detriment of the UK.

 

Aviador

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Wizz have really turned their business into a formidable force. Although I never saw that coming I can't imagine easyjet being sold off anytime soon.
 

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Jerry

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That would be an interesting about turn. easyJet bought BA's low-cost airline, Go, albeit by then it had been sold by BA in a management buyout and now BA's parent company might be buying easyJet.
Yes it would it be. Considering the size of Easyjet and especially their dominance at airports like Gatwick would interesting to see what the competition authorities would say. In the UK for instance IAG would end up dominating the UK market especially London.
Buying Easyjet though would save BA having to set up a LCC subsidiary for Gatwick.
 

Jerry

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easyJet bolsters investment in seasonal bases with five new aircraft across Malaga, Palma and Faro bases in 2022​

 

airforced

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Even though this a Press piece primarily it does show that EasyJet have realised that they need to look for business that previously they haven't bothered with. Hard times for all the airlines and those who go out a looking for business will be rewarded or so they hope. Probably not quite as simple as that but it shows that they are trying.
 

Carl0927

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It does make me wonder their strategy , from Liverpool, they have dropped a number of long standing busy routes Berlin ,Paris , Venice , Lisbon for example. Now they are looking for business :unsure:
 
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