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    EZJ   GB00B7KR2P84

EASYJET PLC

(EZJ)
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Delayed Quote. Delayed London Stock Exchange - 10/15 11:35:15 am
644.2 GBX   +2.16%
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BA-owner IAG not planning to tap investors for funds - Sunday Times

09/19/2021 | 05:57am EDT
FILE PHOTO: British Airways aircraft stand at London City Airport, Britain

(Reuters) - British Airways owner IAG is not planning to raise billions of euros from shareholders to get the company through the extended COVID-19 crisis, its chief executive Luis Gallego told The Sunday Times.

"We do not see the necessity to do a rights issue and are not considering it," Gallego told the newspaper https://bit.ly/3Cphn3L adding that the company was talking through "different options" with banks.

The comments come after media speculation about the company's plans to shore up its finances.

In May, IAG announced plans to raise 825 million euros ($967 million) from a convertible bond to bolster its balance sheet.

Last year, the group launched a 2.75 billion euros ($3.22 billion) capital raising.

Gallego noted that the group had high debts but also had strong liquidity of 10.2 billion euros, Times reported.

"We have revolving credit facilities, we are analysing other ways of financing the group so we have alternatives before we [consider] another rights issue," he told the newspaper adding that repaying debts will be group's priority.

Earlier this month, British airline easyJet Plc opted to raise $1.7 billion from shareholders to recover from the pandemic and declined a takeover approach from Wizz Air.

Asked if he had discussed a merger with executives at easyJet, Gallego said: "We talk to all airlines that can be interesting to us," according to the newspaper.

($1 = 0.8529 euros)

(Reporting by Aishwarya Nair in Bengaluru; Editing by Toby Chopra)


ę Reuters 2021
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Analyst Recommendations on EASYJET PLC
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Financials
Sales 2021 1 412 M 1 941 M 1 941 M
Net income 2021 -970 M -1 334 M -1 334 M
Net Debt 2021 1 493 M 2 053 M 2 053 M
P/E ratio 2021 -3,36x
Yield 2021 -
Capitalization 4 869 M 6 701 M 6 695 M
EV / Sales 2021 4,51x
EV / Sales 2022 1,18x
Nbr of Employees 14 000
Free-Float 84,3%
Chart EASYJET PLC
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Technical analysis trends EASYJET PLC
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 644,20 GBX
Average target price 810,27 GBX
Spread / Average Target 25,8%
EPS Revisions
Managers and Directors
Johan Peter Lundgren Chief Executive Officer & Director
Kenton Jarvis Chief Financial Officer
Robert John Orr Barton Non-Executive Chairman
Stephen Alan Michael Hester Chairman-Designate
Sam Kini Chief Data & Information Officer
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