Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

EASYJET PLC

(EZJ)
  Report
Real-time Estimate Quote. Real-time Estimate CHI-X - 04/08 11:30:00 am
652.4 GBp   +2.61%
10:18aEASYJET : founder seeks to oust directors over Airbus plane order
RE
08:03aEASYJET : Berenberg reaffirms its Neutral rating
MD
04/07Coronavirus slowdown hopes boost London stocks
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Norwegian Air's shares jump as turnaround takes off

share with twitter share with LinkedIn share with facebook
share via e-mail
02/06/2020 | 09:56am EDT
FILE PHOTO: A Norwegian Air plane is refuelled at Oslo Gardermoen airport

Norwegian Air's turnaround gathered pace last month as the budget carrier removed unprofitable routes from its network and boosted the income from remaining flights, sending its shares up almost 6% in early trade.

The airline's yield - income per passenger carried and kilometer flown - rose 15% to 0.40 Norwegian crown ($0.0435), its monthly traffic report showed on Thursday, beating a 0.37 crown forecast in a Reuters poll of analysts.

The company cut its capacity by a bigger-than-expected 29% in January from a year earlier. Analysts had expected a 22.2% decline in capacity for the month.

Norwegian's shares traded 4.3% higher at 39.66 crowns by 0839 GMT, but are still down 46% in the last 12 months.

"I am pleased that we continue to deliver on the strategy of moving from growth to profitability," Chief Executive Jacob Schram, in office since the start of the year, said in a statement.

Norwegian has shaken up the transatlantic travel market with low fares, but breakneck expansion and the grounding of its Boeing MAX fleet also brought mounting losses, forcing the company repeatedly to raise cash from owners.

Seeking to turn itself around and avoid joining the ranks of collapsed airlines, the company announced in October it would cut its capacity by 10% in 2020 from 2019.

Another measure, revenue per available seat kilometer, or RASK, grew by 22% year-on-year to 0.32 crowns, beating the 0.30 crowns predicted by analysts, and Norwegian also raised its fuel hedges to guard against a spike in prices.

The increase in RASK pointed to better operating margins at the carrier, said Danske Bank analyst Martin Stenshall, who holds a buy recommendation on the stock.

Norwegian on average filled 80.9% of seats in January, up from a load factor of 76.1% a year ago and beating an average forecast of 80.6%.

Routes between Ireland and the United States and Canada were cut from Norwegian's schedule last September, and in December the company announced the sale of its domestic business in Argentina.

The cutbacks may also alleviate the pressure on rivals such as Scandinavian Airlines, which now faces less head-to-head competition on routes between Europe and the United States.

($1 = 9.1879 Norwegian crowns)

(Editing by Gwladys Fouche and Barbara Lewis)

By Terje Solsvik

Stocks mentioned in the article
ChangeLast1st jan.
ALIMENTATION COUCHE-TARD INC. -1.99% 35.99 Delayed Quote.-10.85%
BOEING COMPANY (THE) 4.87% 147.79 Delayed Quote.-54.33%
DANSKE BANK A/S -2.45% 74.06 Delayed Quote.-29.57%
EASYJET PLC 1.60% 646 Delayed Quote.-55.37%
EURO / ARGENTINE PESO (EUR/ARS) 0.03% 70.8354 Delayed Quote.4.49%
NORWEGIAN AIR SHUTTLE ASA -6.34% 8.27 Delayed Quote.-76.61%
RYANAIR HOLDINGS PLC -0.63% 10.2 Delayed Quote.-29.84%
SAS AB (PUBL) -3.49% 8.58 Delayed Quote.-41.78%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.29% 65.1565 Delayed Quote.8.42%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on EASYJET PLC
10:18aEASYJET : founder seeks to oust directors over Airbus plane order
RE
08:03aEASYJET : Berenberg reaffirms its Neutral rating
MD
04/07Coronavirus slowdown hopes boost London stocks
RE
04/07EASYJET : Credit Suisse reiterates its Buy rating
MD
04/07Jet2 cancels trips until mid-June
RE
04/06UK shares surge as slowing COVID-19 deaths calm mood
RE
04/06EASYJET : founder steps up battle with management over Airbus order
RE
04/06EASYJET : founder steps up battle with management over Airbus order
RE
04/06EASYJET : requests draw down of $500 million credit facility, explores more fund..
RE
04/02BA suspends more than 30,000 staff, owner scraps dividend
RE
More news
Financials (GBP)
Sales 2020 5 184 M
EBIT 2020 -62,3 M
Net income 2020 -69,9 M
Debt 2020 1 302 M
Yield 2020 3,80%
P/E ratio 2020 -20,9x
P/E ratio 2021 8,08x
EV / Sales2020 0,74x
EV / Sales2021 0,58x
Capitalization 2 551 M
Chart EASYJET PLC
Duration : Period :
easyJet plc Technical Analysis Chart | EZJ | GB00B7KR2P84 | MarketScreener
Technical analysis trends EASYJET PLC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 1 076,23  GBp
Last Close Price 635,80  GBp
Spread / Highest target 183%
Spread / Average Target 69,3%
Spread / Lowest Target -29,2%
EPS Revisions
Managers
NameTitle
Johan Peter Lundgren Chief Executive Officer & Director
Robert John Orr Barton Non-Executive Chairman
Peter Brendan Bellew Chief Operating Officer
Andrew Robert Findlay Chief Financial Officer & Executive Director
Sam Kini Chief Data & Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
EASYJET PLC-55.37%3 099
DELTA AIR LINES, INC.-61.95%14 184
AIR CHINA LIMITED1.21%12 445
RYANAIR HOLDINGS PLC-29.84%12 104
ANA HOLDINGS INC.-2.71%9 226
CHINA EASTERN AIRLINES CORPORATION LIMITED0.96%8 569