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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  EasyJet    EZJ   GB00B7KR2P84

EASYJET

(EZJ)
  Report
Real-time Estimate Quote. Real-time Estimate CHI-X - 02/20 04:30:21 am
1498.75 GBp   -0.45%
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EasyJet lifted by tailwinds from strong demand and Thomas Cook's demise

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01/21/2020 | 04:14am EST
The company logo is seen on the tail of an Easyjet plane at Manchester Airport in Manchester

British budget airline easyJet expects its first-half performance to improve from last year, it said on Tuesday, helped by robust travel demand and a slight easing of competition after the collapse of Thomas Cook.

Reporting on the quieter winter period, easyJet flagged an upturn in its revenue per seat and said its first-half headline pretax loss would narrow from the 275 million pounds in the same period last year.

Chief Executive Johan Lundgren said there was limited visibility on the key summer season, in which easyJet tends to make all of its profit, but he expects the positive momentum to continue.

"Our bookings are slightly ahead for the half year and it looks the same when we go into the next half," he told reporters.

Shares in easyJet gained 4.7% to 15.21 pounds by 0838 GMT.

The company's first-half revenue per seat is now expected to increase by mid to high single digits, it said on Tuesday, upgrading a previous forecast for it to rise by low to mid single digits after an 8.8% jump in its first quarter.

Bernstein analyst Daniel Roeska described the growth in revenue per seat as "the star of the show".

"An encouraging trading statement with a very upbeat revenue per seat number," he said.

SELF-HELP

EasyJet said the failure of holiday company Thomas Cook last September lifted its revenue per seat by 1.5% in its first quarter - the three months to Dec. 31 - alongside a boost from "self-help" measures.

These measures include the use of data and modelling to make predictions that help to maximise ticket prices in the seven days before a flight.

Further gains were made from strong travel demand that also enabled rival Ryanair to upgrade its profit forecast this month.

"Consumer demand remains in a good place versus last year," Lundgren said.

Both airlines are also benefiting from subdued market capacity growth, driven not only by Thomas Cook's failure but also airline discipline and the grounding of the Boeing 737 MAX.

The strong appetite for travel comes despite the aviation industry coming under increasing pressure to reduce emissions in the face of the growing "flight shame" movement.

EasyJet last year said it would become the world's first major airline to operate on net-zero carbon emissions across its flight network and it said the policy is reaping rewards.

"They (customers) state that they are overall more satisfied with the experience and that they are more likely to choose us," Lundgren said when asked about the net-zero commitment.

By Sarah Young

Stocks mentioned in the article
ChangeLast1st jan.
BOEING COMPANY (THE) -0.17% 338.3 Delayed Quote.4.03%
EASYJET -0.30% 1501 Delayed Quote.5.69%
RYANAIR HOLDINGS PLC -0.94% 15.28 Delayed Quote.5.43%
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Financials (GBP)
Sales 2020 6 922 M
EBIT 2020 557 M
Net income 2020 426 M
Debt 2020 708 M
Yield 2020 3,48%
P/E ratio 2020 14,1x
P/E ratio 2021 12,5x
EV / Sales2020 0,96x
EV / Sales2021 0,90x
Capitalization 5 945 M
Chart EASYJET
Duration : Period :
easyJet Technical Analysis Chart | MarketScreener
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Technical analysis trends EASYJET
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 1 529,21  GBp
Last Close Price 1 505,50  GBp
Spread / Highest target 19,6%
Spread / Average Target 1,57%
Spread / Lowest Target -26,9%
EPS Revisions
Managers
NameTitle
Johan Peter Lundgren Chief Executive Officer & Director
Robert John Orr Barton Non-Executive Chairman
David Morgan Head-Operations
Andrew Robert Findlay Chief Financial Officer & Executive Director
Sam Kini Chief Data & Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
EASYJET5.69%7 696
DELTA AIR LINES INC.0.05%37 434
UNITED AIRLINES HOLDINGS, INC.-9.84%20 304
RYANAIR HOLDINGS PLC6.60%18 050
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, SA2.72%16 343
AIR CHINA LIMITED-13.25%15 513