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    EZJ   GB00B7KR2P84

EASYJET PLC

(EZJ)
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Airline easyJet cancels more than 200 flights

05/28/2022 | 05:32am EDT
FILE PHOTO: EasyJet airliner lands at Son Sant Joan airport in Palma de Mallorca

LONDON (Reuters) - Low-cost carrier easyJet is to cancel more than 200 flights over the next 10 days due to airport delays and other restrictions, disrupting travel during the school holidays.

The European airline has been hit by a string of problems since the removal of COVID restrictions led to a rebound in travel, with many British airports struggling to recruit enough ground staff while easyJet has also struggled with IT problems.

It recently removed six seats from some A319 aircraft to reduce the crew it needed by one.

It said in a statement on Saturday it would cancel around 24 flights a day from London's Gatwick Airport between May 28 and June 6. It was forced to cancel around 200 flights on Thursday due an IT problem.

"We are very sorry for the late notice of some of these cancellations and inconvenience caused for customers booked on these flights however we believe this is necessary to provide reliable services over this busy period," it said.

"Customers are being informed from today and provided with the option to rebook their flight or receive a refund and can apply for compensation in line with regulations."

(Reporting by Kate Holton; Editing by Kirsten Donovan)


© Reuters 2022
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Analyst Recommendations on EASYJET PLC
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Financials
Sales 2022 5 718 M 6 807 M 6 807 M
Net income 2022 -54,4 M -64,8 M -64,8 M
Net Debt 2022 713 M 849 M 849 M
P/E ratio 2022 -164x
Yield 2022 -
Capitalization 2 612 M 3 109 M 3 109 M
EV / Sales 2022 0,58x
EV / Sales 2023 0,40x
Nbr of Employees 13 000
Free-Float 84,1%
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Mean consensus BUY
Number of Analysts 19
Last Close Price 345,50 GBX
Average target price 664,06 GBX
Spread / Average Target 92,2%
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Managers and Directors
Johan Peter Lundgren Chief Executive Officer & Director
Kenton Jarvis Chief Financial Officer & Director
Stephen Alan Michael Hester Chairman
Stuart Birrell Chief Data & Information Officer
Peter Brendan Bellew Chief Operating Officer
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