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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlobalData Plc    DATA   GB00B87ZTG26

GLOBALDATA PLC

(DATA)
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GlobalData : easyJet's aggressive cost-cutting plans could be too drastic, says GlobalData

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07/01/2020 | 12:44am EDT
30 Jun 2020
easyJet's aggressive cost-cutting plans could be too drastic, says GlobalData
Posted in Travel & Tourism

Following recent news that easyJet has begun consultations on plans to close bases at Stansted, Southend and Newcastle and that 727 of its UK-based pilots are at risk of redundancy, as well as a third of its entire workforce;

Ralph Hollister, Analyst, Travel & Tourism at GlobalData, a leading data and analytics company, offers his view on the situation:

'Although it is vital that easyJet cuts costs to operate efficiently amid the current level of demand for air travel, there is a danger that its streamlining initiatives could be too aggressive. The airline could end up being left bare and short of labor if demand continues to surge as European governments continue to relax travel restrictions - pilots that are made redundant won't simply sit back and wait for the airline to re-employ them when sufficient demand levels return.

'IATA does not expect pre-coronavirus demand levels to return until at least 2023. Although easyJet and many other carriers have echoed these sentiments, they shouldn't completely bank onn this being the case. The airline needs to put itself in a position where it can react quickly to sudden changes in the external environment ready to consume more of the returning demand. 'Although limiting cost-cutting plans comes with obvious risks, airlines need to find a happy medium to have both scenarios covered in the event of pick up in sustained demand that is quicker than expected.'

Disclaimer

GlobalData plc published this content on 30 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2020 04:43:01 UTC

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Financials
Sales 2020 186 M 234 M 234 M
Net income 2020 23,0 M 28,9 M 28,9 M
Net Debt 2020 35,1 M 44,0 M 44,0 M
P/E ratio 2020 79,2x
Yield 2020 1,19%
Capitalization 1 681 M 2 120 M 2 109 M
EV / Sales 2019
EV / Sales 2020 9,21x
Nbr of Employees 3 355
Free-Float 26,1%
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Number of Analysts 2
Average target price 1 200,00 GBX
Last Close Price 1 425,00 GBX
Spread / Highest target -15,8%
Spread / Average Target -15,8%
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Michael Thomas Danson Chief Executive Officer & Director
Bernard Anthony Cragg Chairman
Graham Charles Lilley Chief Financial Officer, Secretary & Director
Peter Martin Harkness Independent Non-Executive Director
Murray Legg Non-Executive Director
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