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    EZJ   GB00B7KR2P84

EASYJET PLC

(EZJ)
  Report
Delayed Quote. Delayed London Stock Exchange - 07/23 11:35:01 am
813.8 GBX   +0.39%
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Britain's airlines say extra support needed if travel stays shut

06/09/2021 | 07:34pm EDT
Easyjet and British Airways planes are pictured at Gatwick airport

LONDON (Reuters) - Airlines based in Britain have told the government they will need industry-specific support to help them survive if COVID-19 rules continue to keep travel markets shut.

Companies including British Airways, easyJet and Ryanair are in a deepening crisis after Britain's plans to restart travel on May 17 following a 4-1/2 month ban on foreign holidays fell far short of their hopes.

Britons are still discouraged from travelling to most countries, and since the May reopening, the government has tightened the rules, removing one of the few destinations that was open, Portugal, from a safe travel list.

As July and August approach, the months when airlines make most of their profits, there are worries the summer season may be lost for a second year in a row, risking airline viability and jobs.

"If a meaningful reopening is not possible during the summer ... then targeted economic support will be essential to ensure UK airlines are able to reach the point when a restart is possible, in order to protect many tens of thousands of jobs," industry lobby Airlines UK said in a letter to finance minister Rishi Sunak on Thursday.

Come the end of September, government support schemes to protect jobs are also due to end, a worry for airlines that might still be grounded due to foreign travel restrictions.

Airlines UK said it wanted Sunak to extend furlough for aviation workers to the end of April 2022, give airlines longer to repay COVID-19 government loans, and launch a "restart grant" scheme to help airlines pay to maintain planes they cannot use.

In the letter, the airlines said their preference would be for travel to restart and be unrestricted for vaccinated people. But recent government policy and comments suggest this is unlikely.

That puts UK airlines at a disadvantage to peers in Europe, as countries there begin to allow more travel, while Britain sticks with its 10 day quarantine and testing requirements.

(Reporting by Sarah Young; Editing by Mark Potter)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EASYJET PLC 0.39% 813.8 Delayed Quote.-2.34%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. -1.13% 168.46 Delayed Quote.6.62%
JET2 PLC -0.17% 1145.5 Delayed Quote.-19.76%
RYANAIR HOLDINGS PLC -0.41% 15.79 Real-time Quote.-2.46%
TUI AG -0.29% 3.79 Delayed Quote.20.18%
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Financials
Sales 2021 1 400 M 1 924 M 1 924 M
Net income 2021 -981 M -1 349 M -1 349 M
Net Debt 2021 2 206 M 3 033 M 3 033 M
P/E ratio 2021 -3,93x
Yield 2021 -
Capitalization 3 700 M 5 090 M 5 086 M
EV / Sales 2021 4,22x
EV / Sales 2022 1,10x
Nbr of Employees 14 000
Free-Float 74,0%
Chart EASYJET PLC
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easyJet plc Technical Analysis Chart | EZJ | GB00B7KR2P84 | MarketScreener
Technical analysis trends EASYJET PLC
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 8,14 GBX
Average target price 1 084,76 GBX
Spread / Average Target 13 230%
EPS Revisions
Managers and Directors
Johan Peter Lundgren Chief Executive Officer & Director
Kenton Jarvis Chief Financial Officer
Robert John Orr Barton Non-Executive Chairman
Sam Kini Chief Data & Information Officer
Peter Brendan Bellew Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
EASYJET PLC-2.34%6 039
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