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

EASYJET PLC

(EZJ)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 01/18 08:41:13 am
816.4 GBX   -1.88%
04:21aEASYJET : HSBC keeps its Buy rating
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01/16UK to give airports aid after COVID rules tightened
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01/16UK to give airports aid after COVID rules tightened
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EasyJet : says vaccine news boosts bookings after £1 billion loss

11/17/2020 | 05:56am EST
FILE PHOTO: Official opening of the new Berlin-Brandenburg Airport in Schoenefeld

LONDON (Reuters) - EasyJet's bookings jumped by 50% last week on positive news about a coronavirus vaccine, a brief respite during a pandemic which pushed the British airline to a 1.27 billion pound annual loss, the first in its history.

European travel has been at very low levels for over eight months, forcing easyJet to take on more debt, tap shareholders for cash and sell dozens of its aircraft to boost its finances to survive until flying recovers.

Chief Executive Johan Lundgren cautioned that while the positive vaccine news was a boost, it was still "early days" and he said he could not forecast when travel would pick-up.

"There is no visibility really beyond the quarter, because this is all down to the travel restrictions," he told reporters on a call.

That makes him more downbeat than larger competitor Ryanair which forecast a return to 75-80% of pre-crisis traffic by next summer on the vaccine news.

Positive news about the Pfizer vaccine on Nov. 9, which last week sent easyJet shares rocketing by 45%, helped easyJet's bookings surge 50% last week compared to the previous week said Lundgren, adding that momentum continued this week following news on a Moderna vaccine on Monday.

If travel does not pick up in the coming months, however, investors worry that easyJet could still need to raise extra debt or equity.

The airline said it agreed an extension of a 600 million pound UK government COVID-19 loan on Tuesday, meaning it now has longer to pay back half of the debt, and Lundgren sought to reassure investors that it was well-set for now.

"No, we think we're in a good position ... at this moment in time," Lundgren said on BBC radio when asked if easyJet would need to raise more money.

He said that the airline would keep its finances under review given the continued uncertainty ahead.

Quarterly cash burn, a gauge watched by investors keen to see costs reduced, improved to 651 million pounds from 774 million pounds in the previous period.

With lockdowns in England, France and Germany, easyJet plans to only fly around 20% of planned capacity for the rest of the year and the CEO said as well as the vaccine, he wanted to see testing as a way to reduce quarantine times to help boost demand.

Shares in the airline traded down 1% to 768 pence at 1008 GMT in a release which Goodbody analysts said contained "no surprises ... which can be taken well".

(This story corrects to add dropped word in paragraph 3)

(Reporting by Sarah Young; additional reporting by William Schomberg, editing by James Davey, Paul Sandle/Guy Faulconbridge and David Evans)

By Sarah Young


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EASYJET PLC -2.12% 815.8 Delayed Quote.0.24%
RYANAIR HOLDINGS PLC -3.42% 15.26 Real-time Quote.-2.80%
All news about EASYJET PLC
04:21aEASYJET : HSBC keeps its Buy rating
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01/16UK to give airports aid after COVID rules tightened
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01/16UK to give airports aid after COVID rules tightened
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01/15EASYJET : Britain tightens borders to keep out new COVID-19 variants
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01/15EASYJET : VINCI Airports Traffic 2020
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01/15EASYJET : Holidays Suspends All Trips Through Late March Amid Lockdown
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01/14London stocks rise on earnings boost, virus worries cap gains
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01/13EASYJET : cabin crew to help with UK vaccination programme
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01/13UK recruits airline cabin crew to do vaccinations
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01/13EASYJET : Goldman Sachs reaffirms its Neutral rating
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More news
Financials
Sales 2021 3 213 M 4 351 M 4 351 M
Net income 2021 -397 M -538 M -538 M
Net Debt 2021 1 447 M 1 960 M 1 960 M
P/E ratio 2021 -9,65x
Yield 2021 -
Capitalization 3 783 M 5 142 M 5 123 M
EV / Sales 2021 1,63x
EV / Sales 2022 0,88x
Nbr of Employees 14 000
Free-Float 70,7%
Chart EASYJET PLC
Duration : Period :
easyJet plc Technical Analysis Chart | EZJ | GB00B7KR2P84 | MarketScreener
Technical analysis trends EASYJET PLC
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 903,59 GBX
Last Close Price 832,00 GBX
Spread / Highest target 44,2%
Spread / Average Target 8,60%
Spread / Lowest Target -42,3%
EPS Revisions
Managers and Directors
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 PLC0.24%5 142
DELTA AIR LINES, INC.-0.57%25 393
RYANAIR HOLDINGS PLC-2.80%21 538
AIR CHINA LIMITED-9.67%14 128
UNITED CONTINENTAL HOLDINGS, INC.1.48%12 772
CHINA SOUTHERN AIRLINES COMPANY LIMITED-6.49%12 072