|Bid||1,274.50 x 0|
|Ask||1,274.00 x 0|
|Day's Range||1,201.00 - 1,278.00|
|52 Week Range||840.00 - 1,367.50|
|Beta (3Y Monthly)||1.13|
|PE Ratio (TTM)||26.06|
|Forward Dividend & Yield||0.59 (4.59%)|
|1y Target Est||N/A|
Capacity growth for the full 2020 financial year is expected to be at the lower end of easyJet’s historic range, writes Julia Faurschou. While the number of passengers carried increased by 8.6 per cent to 96m, this did not keep pace with a 10.3 per cent increase in capacity to 105m seats available, leading to a 1.4 percentage point decline in load factor to 91.5 per cent. Total revenue per seat at constant currency for the second half is expected to increase by about 0.8 per cent, better than management’s previous assessment that it would be “slightly down”, due in part to the strike action disruption at competitors.
* China willing to make partial trade deal with U.S. Oct 9 (Reuters) - German shares logged their best day in six weeks on Wednesday, leading the charge among European shares, as sentiment was lifted by signs of progress in U.S.-China trade relations a day ahead of high-level talks between the two parties. Reports that China was still open to agreeing to a partial trade deal with the United States, and that Beijing was offering to increase its annual purchases of U.S. agricultural products, came as signs of compromise, but analysts remain skeptical.
Airbus shares rose on Tuesday as investors bet a 13.5% rise in nine-month deliveries put it within reach of a full-year goal despite factory snags, while the cancellation of five jets from struggling Norwegian Air took the edge off 41 new orders. Monthly company data issued late on Monday left the European planemaker's deliveries and new orders well ahead of U.S. rival Boeing in a slow year for a commercial aerospace industry beset by negative headlines on safety and trade tensions.
(Bloomberg) -- European stocks sank, snapping two days of gains, amid renewed trade tensions between China and the U.S. and as Brexit talks faced yet another impasse.The Stoxx Europe 600 Index was down 0.9% as of 12:51 p.m. in London, with all industry groups lower. China indicated it would strike back after the U.S. blacklisted eight of its tech giants, while Bloomberg reported that the Trump administration is moving ahead with discussions about possible restrictions on capital flows into China, with a particular focus on investments made by U.S. government pension funds.“There’s a clear escalation between the U.S. and China today, which doesn’t bode well for a deal later this week,” said Alexandre Baradez, chief market analyst at IG France. “A big chunk of the gains in European stocks this year has been on hopes of a trade deal, so clearly the risk is on the downside at this point.”The drop in European stocks was broad based, with travel and leisure shares among the worst hit after EasyJet Plc postponed an update on its outlook for next year. Banks also tumbled, with both Deutsche Bank and Commerzbank down 3.8%.In the U.K., Prime Minister Boris Johnson told German Chancellor Angela Merkel a Brexit deal is essentially impossible if the EU demands Northern Ireland should stay in the bloc’s customs union, sending the pound lower. The FTSE 100, which tends to have a negative correlation to the currency, fell 0.2%, while the more domestic-focused FTSE 250 index lost 0.9%.Last week, European equities had their worst drop in two months as concerns about global growth sent investors running for the exit.Among the biggest movers, Qiagen NV tumbled 20% after reporting disappointing earnings and as its chief, Peer Schatz, decided to step down. Uniper SE dropped 7.5% after Fortum Oyj agreed to acquire a majority stake in the company.To contact the reporters on this story: Ksenia Galouchko in London at email@example.com;Namitha Jagadeesh in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Blaise Robinson at email@example.com, John ViljoenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
EasyJet said full-year profits would be at the top end of its forecasts, after a boost from pilot strikes at rivals British Airways and Ryanair. The budget airline reported on Tuesday that it expected to deliver a profit before tax of between £420m and £430m for the 12 months ending September 30. Ryanair has also had strikes by pilots in the UK and Spain, although its flights were largely unaffected.
(Bloomberg) -- EasyJet Plc said earnings for the year through September were toward the top end of its forecasts, helped by strikes at British Airways and Ryanair Holdings Plc.The unrest at EasyJet’s biggest rivals spurred demand and sent revenue per seat, a proxy for fares, up 0.8% in the second half despite earlier predictions of a slide, the Luton, England-based carrier said in a statement Tuesday.The figures weren’t enough to quell investor concerns that EasyJet had relied too much on disruption elsewhere, and that it faces tough times in an operating environment that has seen a spate of travel-company collapses this year. The shares fell the most since May.Chief Executive Officer Johan Lundgren said forward bookings for 2020 are in line a year ago and that capacity growth will be at the lower end of the historic range, something that should further bolster fares. Efforts to curb delays and cancellations in poor weather or technical glitches are also bearing fruit.Sanford C. Bernstein analyst Daniel Roeska said in a note that the full-year numbers were in line with his estimates but that it’s not clear how well EasyJet would have performed without a helping hand from the BA and Ryanair strikes and the collapse last month of Thomas Cook Group Plc.The stock fell as much as 5.8% and was trading 4.7% lower at 1,117 pence as of 8:23 a.m. in London. The shares are barely changed for the year, valuing EasyJet at 4.44 billion pounds ($5.5 billion).EasyJet and its peers should continue to gain from the exit of weaker operators, Damian Brewer, an analyst at RBC Capital Markets, said in a note to clients. Demand is poised to exceed capacity this winter, he said, spurring an increase in fares after a period of sustained oversupply.EasyJet said 12-month pretax profit was between 420 million pounds and 430 million pounds, after earlier predicting 400 million pounds to 440 million pounds. The carrier reported a profit of 578 million pounds in fiscal 2019.As least four carriers have failed in the past month alone amid fluctuating fuel prices, a glut of seats and a slowing European economy. Slovenian flag carrier Adria Airways and XL Airways and Aigle Azur, both of France, folded alongside Thomas Cook, whose collapse led to the biggest peacetime airlift in British history as stranded passengers were brought home.To contact the reporter on this story: Siddharth Philip in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Tara Patel at email@example.com, Christopher JasperFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of low-cost airline easyJet weakened in early trade on Tuesday, as the company said its headline pretax profit for the year will range between £420 million and £430 million, which it said was the upper half of its previous guidance, on an 8.6% rise in passenger traffic and a 1.4 percentage point drop in load factor. The company said its second-half revenue per seat at constant exchange rates will grow by around 0.8%, which is stronger than its previous estimate of "slightly down" due to strikes at rivals British Airways and Ryanair as well as what it called "yield optimization self-help initiatives." It said fiscal first-quarter bookings are in line with last year and it will grow capacity for the year at the low end of its historic range.
Its baggage is always first on the carousel, ahead of Ryanair’s surcharged suitcases. If anything, it sounds like easyJet, in its full-year trading update. EasyJet passengers will also have taken pleasure from taking off when others could not, as investments in “operational resilience” — ie, crew rosters and standby aircraft — meant fewer cancellations since last September, while BA and Ryanair were leaving 235,000 people grounded.
European shares closed little changed on Tuesday on persistent growth worries and as London stocks succumbed to heightened Brexit uncertainty after the Supreme Court ruled that the British prime minister's suspension of parliament was unlawful. The pound rallied as the Court's decision was seen as reducing the probability of Britain leaving the European Union without a divorce deal or possibly delaying Brexit. The currency's rally saw the FTSE 100 give up 0.5% as firms that earn much of their revenue in dollars fell.
One of Europe’s biggest travel companies is no more and the damage it leaves in its wake is likely to take some time to clear. After weeks of speculation, in the early hours of Monday morning, Thomas Cook announced it was shutting down after failing to complete a $1.1 billion rescue deal. The collapse isn’t […]
The collapse of travel group Thomas Cook and a trio of subsidiary airlines, leaving 600,000 holidaymakers stranded, is unlikely to be the last failure among Europe's struggling second-tier carriers. As Britain was activating plans for its biggest peacetime repatriation, two smaller operators, Aigle Azur and XL Airways, were before the French bankruptcy courts on Monday. Shares in larger airlines rose on expectations that Thomas Cook's demise would bring them more passengers, higher fares and new airport slots.
Investing.com -- European stock markets opened mostly lower, overshadowed by the collapse of U.K. travel group Thomas Cook and another rise in oil prices due to lingering geopolitical concerns.
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Flying within Europe was once a pretty expensive affair. National flag carriers enjoyed route monopolies and could charge whatever they wanted — that is, until the European Union created a single market leading to a boom in low-cost carriers. Not only was it cheaper to travel but there were now more places to travel to. […]