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

EASYJET

(EZJ)
  Report  
Delayed Quote. Delayed London Stock Exchange - 11/15 11:35:09 am
1302 GBp   +0.58%
11/15AirAsia to sell tickets on other airlines as part of online push
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11/14EASYJET PLC : annual earnings release
11/12Norwegian Air to fly three new non-stop U.S.-Europe routes
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EasyJet uplift fails to pierce airline industry clouds

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10/08/2019 | 05:01am EST
A Easy Jet Airbus A319 plane takes off from the Nantes-Atlantique airport in Bouguenais near Nantes

LONDON (Reuters) - British budget airline easyJet expects full-year profit towards the top end of expectations, helped by pilot strikes at rivals British Airways and Ryanair, it said on Tuesday.

EasyJet shares, however, fell sharply from a five-month high hit in the previous session, with some brokers disappointed by a lack of positivity on the underlying outlook given the struggles of rivals across the sector.

British Airways pilots went on strike for two days last month, grounding thousands of flights. BA owner IAG said that the strikes would take 137 million euros ($150.47 million) off this year's earnings.

Though Ryanair flights ran as scheduled during industrial action last month, easyJet said the strikes helped to lift its revenue per seat by 0.8% in the second half, having previously expected a slight fall.

EasyJet now expects full-year headline pretax profit of between 420 million pounds ($515.6 million) and 430 million pounds, said Chief Executive Johan Lundgren, citing increased demand because of the disruption at British Airways and Ryanair.

It had previously forecast profit between 400 million and 440 million pounds.

While Lundgren also pointed to more price points for seat selection and hold luggage, as well as measures to make its fleet more resilient to operational disruptions, he said market conditions remain "challenging".

The company added that full-year headline costs would increase by about 12%, partly due to higher fuel prices.

Bernstein analysts said they hope for more detail from next month's full-year earnings call on whether the boost from strikes at BA and Ryanair was obscuring underlying trends.

Travel group Thomas Cook collapsed last month, with the company unable to service its debts and convince banks to back a rescue plan in the face of changing customer habits and intense competition from fast-growing airlines such as easyJet and Ryanair.

EasyJet's expected capacity growth in 2020 is expected to be at the lower end of its historic range, it said on Tuesday.

"The market was hoping for a more robust commentary, with a mention to positive pricing trends, with this needed to deliver reasonable profit growth this year given the less attractive fuel hedging it has in place compared to last year's rates," broker Goodbody said in a note.

"Overall, we see today’s release as disappointing."

(Reporting by Alistair Smout; Editing by David Goodman)

By Alistair Smout

Stocks mentioned in the article
ChangeLast1st jan.
EASYJET 0.58% 1302 Delayed Quote.17.83%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, SA 2.80% 557.4 Delayed Quote.-9.81%
RYANAIR HOLDINGS 1.80% 13.85 Delayed Quote.26.56%
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Latest news on EASYJET
11/15AirAsia to sell tickets on other airlines as part of online push
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11/14EASYJET PLC : annual earnings release
11/12Norwegian Air to fly three new non-stop U.S.-Europe routes
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11/12EASYJET : to roll out package holiday business to fill Thomas Cook market
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11/08EasyJet, Jet2.com buy Thomas Cook's UK airport slots
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11/08EasyJet, Jet2.com buy Thomas Cook's UK airport slots
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11/08EASYJET : statement on Thomas Cook slot acquisition
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11/07Lufthansa plans more cost cutting as cabin crew strike over pay
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11/04Austrian Airlines plans to cut 500 jobs to reduce costs - source
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Financials (GBP)
Sales 2019 6 378 M
EBIT 2019 469 M
Net income 2019 346 M
Debt 2019 342 M
Yield 2019 3,40%
P/E ratio 2019 15,1x
P/E ratio 2020 14,0x
EV / Sales2019 0,86x
EV / Sales2020 0,87x
Capitalization 5 149 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 HOLD
Number of Analysts 25
Average target price 1 201,61  GBp
Last Close Price 1 302,00  GBp
Spread / Highest target 15,2%
Spread / Average Target -7,71%
Spread / Lowest Target -27,0%
EPS Revisions
Managers
NameTitle
Johan Peter Lundgren Chief Executive Officer & Director
Robert John Orr Barton Chairman
Margaret Christine Browne Chief Operating Officer
Andrew Robert Findlay Chief Financial Officer & Executive Director
Paul Albin Finance Director
Sector and Competitors
1st jan.Capitalization (M$)
EASYJET17.83%6 641
DELTA AIR LINES INC.13.93%36 631
UNITED AIRLINES HOLDINGS, INC.10.49%23 409
RYANAIR HOLDINGS26.56%16 778
AIR CHINA LIMITED3.83%15 994
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, SA-9.81%14 266