EZJ.L - easyJet plc

LSE - LSE Delayed Price. Currency in GBp
-29.00 (-2.13%)
At close: 4:38PM GMT
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Previous Close1,363.00
Bid1,334.00 x 0
Ask1,334.50 x 0
Day's Range1,331.00 - 1,366.94
52 Week Range840.00 - 1,395.17
Avg. Volume2,452,010
Market Cap5.3B
Beta (3Y Monthly)0.91
PE Ratio (TTM)15.19
EPS (TTM)87.80
Earnings DateNov 19, 2019
Forward Dividend & Yield0.44 (3.16%)
Ex-Dividend Date2020-02-27
1y Target Est1,479.74
  • Airlines Hit Out at Jet-Fuel Tax Burden From Europe’s Green Deal

    Airlines Hit Out at Jet-Fuel Tax Burden From Europe’s Green Deal

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Leading airlines attacked European Union plans to impose a region-wide kerosene tax as part of a sweeping new environmental strategy, saying investment in sustainable fuels and electric planes would be more effective in reducing carbon emissions.Chiefs of four of the region’s five biggest carriers raised their concerns with EU Transport Commissioner Adina-Ioana Valean in Brussels Tuesday, with Ryanair Holdings Plc’s Michael O’Leary leading criticism of measures set to be unveiled in the so-called Green Deal package this week.Higher duties will do nothing for the environment while reaping “untold economic damage,” O’Leary said, describing the policy as a government tax grab “dreamt up here in Brussels or designed by cyclists in Holland.” He spoke after meeting with Valean as chairman of the Airlines for Europe lobby group alongside the heads of Deutsche Lufthansa AG, IAG SA and EasyJet Plc.Airlines are pushing back against the kerosene levy as the EU moves to overhaul energy-taxation laws unchanged since 2003 as part of a commitment to reducing greenhouse-gas emissions to net zero by mid-century. Aviation finds itself in the firing line as the auto industry and other sectors make strides toward slashing CO2 output, and with many fuels long subject to taxes.A4E said in a statement that an incentive-based system coupled with increased investment in sustainable fuels would be a more positive way forward, together with an acceleration of the Single European Sky project, which it estimates would by itself cuts carbon emissions by 10%.O’Leary said that plan -- which would reform complex air traffic control systems -- must be implemented if Europe is at all serious about tackling the issue. A purely tax-based approach would be damaging not just for airlines but tourism-based economies in the region, he said.Flying BoomWhile aviation currently accounts for only about 2% of all man-made carbon discharges, emissions have more than doubled since 1990 as a burgeoning global middle class stokes a boom in flights.“We have to deliver growth in Europe in a sustainable manner,” O’Leary said. “Taxation will defeat that purpose. It takes the money away we need to invest in new aircraft.” A4E members alone are spending 170 billion euros ($188 billion) on planes that typically burn 18% less fuel and carry 4% more passengers, he said.O’Leary said the industry must speak as one on CO2, while telling Bloomberg TV that passengers switching to Ryanair from “naughtier competitors” can cut their carbon footprint by 50%. The company has previously clashed with Lufthansa over the issue, with the German airline criticizing discounters for encouraging unnecessary journeys and the Irishman saying an aging fleet makes its rival one of the worst polluters in Europe.International Air Transport Association CEO Alexandre de Juniac said earlier in Madrid that carriers want to be part of the Green Deal but that “taxes are a politician’s way out” and less effective than a long-term approach requiring more time and effort. Governments and oil companies also need to play a greater role in making sustainable aviation fuels a commercial reality, he said.The United Nations says airlines are set to overtake power generation as the single biggest CO2 producer within three decades, assuming other sectors build on moves to transition to alternative technologies such as electric cars.Aviation’s scope for change is limited by the inability of today’s batteries to match jet fuel, which has 50 times the power density, meaning even small hybrid and electric airliners probably won’t be viable for more than a decade. Airbus SE says it could potentially build an emission-free 100-seater by the 2030s, while Boeing Co. aims to halve CO2 output by 2050 from 2005 levels.In the meantime, airlines are taking a two-pronged approach to cleaning up their acts, extending the use of CO2 offsets like tree planting while also embracing more sustainable propellants, such as kerosene blended with fuel from biomass and synthetic alternatives derived from carbon dioxide and monoxide together with hydrogen extracted from water.While such fuels aren’t yet financially competitive with kerosene, industry estimates suggest they should become viable once production reaches around 2% of all jet fuel use, something that maybe be attainable by 2025.(Updates with O’Leary comments starting in third paragraph.)\--With assistance from Siddharth Philip.To contact the reporters on this story: Lyubov Pronina in Brussels at lpronina@bloomberg.net;Vonnie Quinn in New York at vquinn@bloomberg.netTo contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Christopher Jasper, Tara PatelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times

    Letter: Offsetting does nothing to reduce carbon

    (November 20) concerning easyJet’s offset strategy is well founded. First, an “offset” neither directly reduces carbon, nor improves an airline’s fuel efficiency, nor leads to new technology. It provides neither a corporate cost benefit, nor a direct return on invested capital.

  • Financial Times

    Letter: Going large on carbon offsetting doesn’t mean it is less effective

    Lex attributes the share price movement instead to “decent” results. Many funds now have specific policies relating to environmental issues along with allocations for sustainable investment. My subsequent conversations with investors confirmed that our decision to offset the carbon emissions from the fuel used for all our flights, even though the estimated cost of up to £100m over the next three years will be borne by the company, has been welcomed by them.

  • Europe Set to Overhaul Its Entire Economy in Green Deal Push

    Europe Set to Overhaul Its Entire Economy in Green Deal Push

    (Bloomberg) -- The European Union is gearing up for the world’s most ambitious push against climate change with a radical overhaul of its economy.At a summit in Brussels next week, EU leaders will commit to cutting net greenhouse-gas emissions to zero by 2050, according to a draft of their joint statement for the Dec. 12-13 meeting. To meet this target, the EU will promise more green investment and adjust all of its policy making accordingly.“If our common goal is to be a climate-neutral continent in 2050, we have to act now,” Ursula von der Leyen, president of the European Commission, told a United Nations climate conference on Monday. “It’s a generational transition we have to go through.”The commission, the EU’s regulatory arm, will have the job of drafting the rules that would transform the European economy once national leaders have signed off on the climate goals for 2050. The wording of the first draft summit communique, which may still change, reflects an initial set of ideas to be floated by the commission on the eve of the leaders’ gathering.The EU plan, set to be approved as the high-profile United Nations summit in Madrid winds up, would put the bloc ahead of other major emitters. Countries including China, India and Japan have yet to translate voluntary pledges under the 2015 Paris climate accord into binding national measures. U.S. President Donald Trump has said he’ll pull the U.S. out of the Paris agreement.In a pitch of her Green Deal to member states and the European Parliament on Dec. 11, von der Leyen is set to promise a set of measures to reach the net-zero emissions target, affecting sectors from agriculture to energy production. It will include a thorough analysis on how to toughen the current 40% goal to reduce emissions by 2030 to 50% or even 55%, according to an EU document obtained by Bloomberg News.Make It IrreversibleIn the next step, the commission will propose an EU law in March that would “make the transition to climate neutrality irreversible,” von der Leyen told the UN meeting. She said the measure will include “a farm-to-fork strategy and a biodiversity strategy” and will extend the scope of emissions trading.The EU Emissions Trading System is the world’s largest cap-and-trade market for greenhouse gases. It imposes pollution caps on around 12,000 facilities in sectors from refining to cement production, including Royal Dutch Shell Plc and BASF SE. Von der Leyen eyes the inclusion of road transport into the market and cutting the number of free emission permits for airlines.Some of the transportation industry’s biggest polluters have already stepped up efforts to reduce their environmental impact. In June, France’s Airbus SE, its U.S. rival Boeing Co. and other aviation companies pledged to reduce net CO2 emissions by half in 2050 compared with 2005 levels. EasyJet Plc, the U.K.-based discount airline, has promised to offset all of its carbon emissions by planting trees and supporting solar-energy projects, while Air France will take similar steps on its domestic routes.Germany’s Volkswagen AG, the world’s largest automaker, aims to become CO2 neutral by 2050, while Daimler AG plans to reach that target for its Mercedes-Benz luxury car lineup by 2039.To ensure that coal-reliant Poland doesn’t veto the climate goals next week, EU leaders will pledge an “enabling framework” that will include financial support, according to the document, dated Dec. 2. The commission has estimated that additional investment on energy and infrastructure of as much as 290 billion euros a year may be required after 2030 to meet the targets.The EU leaders will also debate the bloc’s next long-term budget next week. The current proposal would commit at least $300 billion in public funds for climate initiatives, or at least a quarter of the bloc’s entire budget for the period between 2021 and 2027.(Updates with details on draft sumit communique from fourth paragraph.)\--With assistance from Ania Nussbaum, Siddharth Philip and Christoph Rauwald.To contact the reporters on this story: Ewa Krukowska in Brussels at ekrukowska@bloomberg.net;Nikos Chrysoloras in Brussels at nchrysoloras@bloomberg.netTo contact the editors responsible for this story: Chad Thomas at cthomas16@bloomberg.net, Chris ReiterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Ryanair seeks to delay operations chief's flight to easyJet

    Ryanair seeks to delay operations chief's flight to easyJet

    Ryanair launched a bid in Ireland's High Court on Tuesday to prevent operations chief Peter Bellew from joining arch-rival easyJet until 2021, saying he possessed information of immense competitive value and that he had signed a non-compete clause. Europe's biggest budget airline said in July that the former Malaysia Airlines boss, who denies that he is bound by such a clause, would step down at the end of the year. On the opening day of the case, a lawyer representing Ryanair listed information he said the airline could not allow to be passed to its rival, including details of delays to the delivery of Boeing's grounded 737 MAX aircraft as well the terms of deals Ryanair has signed with partners.

  • EasyJet Is Set for a Return to the FTSE 100

    EasyJet Is Set for a Return to the FTSE 100

    (Bloomberg) -- EasyJet Plc is set to return to Britain’s benchmark FTSE 100 index six months after the budget carrier was demoted, the benchmark compiler said.The airline will replace specialist insurer Hiscox Ltd., which will be relegated to the FTSE 250, according to a statement from FTSE Russell. The index review will be based on closing prices on Tuesday and the final announcement will be made after the market close on Wednesday, FTSE Russell said.Luton, England-based EasyJet suffered in the first half of 2019 as investors reacted to its cautious outlook and as the U.K.’s faltering attempts to leave the European Union weighed on demand for air travel. But it stabilized in recent months and jumped in October when it said earnings would hit the top end of its guidance as strikes at rival airlines drove customers onto its aircraft.Bermuda-incorporated Hiscox suffered a hefty slide following its third-quarter earnings in November. Brokers cut their ratings after the report raised concerns about a turnaround in the group’s retail unit and materially higher catastrophe costs in 2019. It has been a FTSE 100 constituent for a year.FTSE 100 membership is coveted not just in terms of prestige, but because it brings investment from funds that follow the index.Joining Hiscox in the FTSE 250 will be joined by Irish cider maker C&C Group Plc, which canceled its Dublin listing in September to leave it with only London-traded shares, and African phone towers owner Helios Towers Plc, which listed in London in October. Just Group Plc also joins the gauge.To contact the reporter on this story: Sam Unsted in London at sunsted@bloomberg.netTo contact the editors responsible for this story: Beth Mellor at bmellor@bloomberg.net, Jon Menon, Blaise RobinsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times

    Thomas Cook collapse hits profits at On the Beach

    Online travel agent On the Beach said profits fell by more than a quarter in its last financial year as it struggled to contain the impact of British package holiday group Thomas Cook’s collapse. On the Beach, which was booking about 15 per cent of its customers on to Thomas Cook flights each year, said on Wednesday that profit before tax for the year to September 30 plunged 26 per cent to £19.4m. The loss of Thomas Cook has also reduced the number of airline seats available in the market and pushed ticket prices higher, On the Beach chief financial officer Paul Meehan said.

  • Thomson Reuters StreetEvents

    Edited Transcript of EZJ.L earnings conference call or presentation 19-Nov-19 9:15am GMT

    Full Year 2019 Easyjet PLC Earnings Call

  • easyJet plc Analysts Are Pretty Bullish On The Stock After Recent Results
    Simply Wall St.

    easyJet plc Analysts Are Pretty Bullish On The Stock After Recent Results

    Investors in easyJet plc (LON:EZJ) had a good week, as its shares rose 3.5% to close at UK£13.48 following the release...

  • Reuters

    EasyJet seeks to "do the right thing" offsetting emissions, critics say fly less

    EasyJet's pledge to offset its carbon emissions isn't the end of its efforts to clean up its act, the budget airline's chief executive said, adding it will look into hybrid and electric planes amid criticism the aviation sector isn't doing enough. On Tuesday, easyJet said it would become the first major airline to achieve net-zero carbon emissions across its whole network through offsetting of its flights. The aviation industry accounts for over 2% of global greenhouse gas emissions, and if left unchecked emissions are expected to rise as passenger and flight numbers increase.

  • EasyJet to offset carbon emissions for all flights

    EasyJet to offset carbon emissions for all flights

    Britain's easyJet aims to become the world's first major airline to operate net-zero carbon flights across its entire network, it said on Tuesday after posting full-year profit towards the top end of expectations. In addition to the plans to offset emissions from flying, the budget carrier also announced that it would launch easyJet Holidays in Britain by Christmas, offering its own beach and city breaks after the demise of tour operator Thomas Cook. The carbon offset programmes will cost about 25 million pounds a year, though Chief Executive Johan Lundgren acknowledged that longer-term solutions are also needed.

  • Reuters

    UPDATE 1-Growth plays pull European shares to new 4-year high

    Growth-dependent cyclical stocks drove European shares to a four-year high on Tuesday as a temporary reprieve for China's Huawei from U.S. sanctions encouraged bets that the world's largest economies could reach a trade truce. Most sectors in the benchmark European index rose, with media stocks one outlier due to a 19.7% slide for Luxemburg-based satellite provider SES after Federal Communications Commission chairman Ajit Pai said he backed a public rather than private auction of spectrum for next-generation 5G wireless networks.

  • Reuters

    UPDATE 3-EasyJet to offset carbon emissions for all flights

    Britain's easyJet is implementing plans to become the world's first major airline to operate with net-zero carbon across its flight network, the budget carrier said on Tuesday as it also flagged improving bookings after a tough 2019. In addition to the plans to offset emissions from flying, the company also announced that it would launch easyJet Holidays in Britain by Christmas, offering its own beach and city breaks after the demise of tour operator Thomas Cook. Airlines have come under increasing pressure to reduce emissions in the face of the growing "flight shame" movement, formed in easyJet boss Johan Lundgren's native Sweden.

  • Investing.com

    Premarket London: EasyJet Profit in Line; Hammerson Fire Sale Continues

    Investing.com -- Here is a summary of regulatory news releases from the London Stock Exchange on Tuesday, 19th November. Please refresh for updates

  • Benzinga

    EasyJet Buys Thomas Cook Slots At Gatwick And Bristol

    U.K.-based low-cost carrier EasyJet has staved off competition from rivals to acquire lucrative takeoff and landing slots at two U.K. airports. Suitors for the slots included International Consolidated Airlines Group (IAG), parent of British Airways and several other carriers, as well as Budapest-based low-cost carrier Wizz Air and Virgin Atlantic. The slots became available following the collapse of 178-year-old U.K.-based tour operator Thomas Cook Group in September.

  • Why easyJet plc’s (LON:EZJ) Use Of Investor Capital Doesn’t Look Great
    Simply Wall St.

    Why easyJet plc’s (LON:EZJ) Use Of Investor Capital Doesn’t Look Great

    Today we are going to look at easyJet plc (LON:EZJ) to see whether it might be an attractive investment prospect...