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

EASYJET (EZJ)
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easyJet : outlines strategy to quieten and decarbonise aviation

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09/28/2017 | 01:36pm CEST

* new Airbus A320 neo aircraft will provide 15% savings in CO2 emissions and a 50% reduction in noise

* electric tugs and hydrogen technology to power aircraft taxiing will provide zero emissions and silent airfield operations

* collaboration with Wright Electric to build and operate the first electric short haul aircraft

easyJet, Europe's leading airline, today outlined a strategy to progressively decarbonise and reduce noise from aviation operations. Since 2000, easyJet's emissions have reduced by over 31% from 116.2 grams to 79.98 grams per passenger kilometre in 2016. easyJet has a carbon emissions target of 72 grams by 2022, which would be a 10% reduction from today's performance and a 38% improvement from 2000.

Commenting on these new advances, easyJet's CEO Carolyn McCall, said:

'For the first time, our industry can envisage a future which isn't wholly reliant on jet fuel, and its harmful CO2 and NOX emissions, and where our noise footprint is significantly reduced for all flights and completely eliminated for many.

'The decarbonisation of other forms of transport like road and rail is advancing quickly and could now be matched by aviation.

'Our newest aircraft are already enabling us to reduce our carbon by 38% since 2000 and the noise footprint by 50% compared to current aircraft.

'We are today unveiling ground equipment and announcing trials of new onboard hybrid technology which could lead to the removal of carbon fuels and all noise from airport operations.

'Even more significantly, we have formed a partnership with Wright Electric to develop, build and operate an all-electric commercial passenger jet which could be flying across our UK and European network within a decade.

'These innovations will not only reduce our impact on the environment but will also provide respite for communities living near airports. They will also help us run our operation more smoothly and ensure passengers get to where they need to go safely and on time.'

Airbus A320/A321 neos

The neo is a step change in aircraft performance, bringing significant environmental and operational benefits - up to 15 percent saving in fuel burn and CO2 emissions, and a reduced noise footprint of 50 percent on take-off and landing providing a benefit to airport neighbourhood communities.

easyJet has taken delivery of two A320neo aircraft to date, with 98 on order for delivery by August 2022. In addition, easyJet has 30 A321neo aircraft on order, with the first delivery expected in July 2018. These aircraft have a 235 seat configuration,. The A321neo aircraft will enable easyJet to reduce its CO2 emissions as it provides an increase in seats per flight of around 30% compared to an A320 and 50% when replacing an A319 while benefitting from the lowest operating costs in the single aisle aircraft category.

Our electric tugs

easyJet has announced today it is introducing new electric, towbarless aircraft tugs to its operation at London Gatwick to perform pushbacks on its fleet of 60 aircraft at the airport.

Currently the push backs are performed by diesel tug vehicles and so this move is predicted to significantly reduce the airlines emissions at Gatwick as well as reduce the noise of these airfield operations.

Designed for the push back of aircraft, the TLD TPX100e has the capability to perform up to 20 aircraft push backs per single charge and removes the use of diesel tugs that run idle between push backs.

The towbarless mechanism means the tug operator is able to lift and tow the aircraft without leaving the tug's driver cabin, creating greater efficiency in moving aircraft off stand.

Hydrogen taxiing system

easyJet announced today that it is partnering with Safran to trial e-taxi hydrogen fuel cell technology in the coming months in what will be a revolutionary zero emissions taxiing system for its aircraft.

Due to the high frequency and short sector lengths of easyJet's operations, around 4% of the airline's total fuel consumed annually is used when the airline's aircraft are taxiing. Once applied across its fleet of 279 aircraft, this technology could save around 55,000 tonnes of fuel and associated CO2 emissions per year. First trials will take place next year at Toulouse Airport.

The taxiing system will also be silent - providing a significant reduction in the noise associated with taxiing.

Didier Godart, Vice President for Innovation at Safran said.

'Safran is both delighted and proud to be teaming up with easyJet on this program, which marks a vital step forward in the use of hydrogen on airplanes. It is also the culmination of work carried out by Safran over the last dozen years, with the aim of drastically reducing polluting emissions.'

All-electric plane

easyJet is collaborating with US company Wright Electric to support their goal for short haul flights to be operated by all-electric planes within 10 years.

The battery in the two seater plane weighs approximately 600 lbs however when scaled up Wright Electric will utilize new energy storage chemistries that are substantially lighter than today's commercial batteries.

Wright Electric already has a two seater plane which is able to demonstrate how the technology works. The next step is to scale this technology up to a ten seater aircraft and eventually to a single aisle short haul commercial plane.

Wright Electric has set itself the challenge of building an all-electric commercial passenger jet capable of flying passengers across easyJet's UK and European network within a decade.

The target range is 330 miles/530 kilometres which would enable it to operate popular routes such as:

London to Paris, Brussels, Amsterdam, Cologne, Glasgow and Edinburgh

Geneva to Paris, Nice, Pisa, Toulouse, Venice and Brussels

Jeffrey Engler, CEO and founder of Wright Electric, commented:

'Working with easyJet to develop the next generation of air travel is a powerful validation of our technology approach and their insights have been invaluable as we look to commercialize our electric aircraft for the large and growing short-haul flight markets. 'easyJet's impressive team has provided deep insights to our engineers about the critical aspects required to run a successful airline, from maintenance to revenue management, and we look forward to working with them in the years ahead.'

For further information, please contact the easyJet press office on 01582 525252 or log onto easyJet.com

easyjet plc published this content on 28 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 September 2017 11:34:04 UTC.

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Sales 2018 5 821 M
EBIT 2018 596 M
Net income 2018 373 M
Debt 2018 246 M
Yield 2018 4,52%
P/E ratio 2018 11,97
P/E ratio 2019 9,70
EV / Sales 2018 0,85x
EV / Sales 2019 0,79x
Capitalization 4 717 M
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Mean consensus HOLD
Number of Analysts 25
Average target price 16,1  GBP
Spread / Average Target 36%
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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
Chris Brocklesby Chief Information Officer
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