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EasyJet PLC (EZJ)

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idpickering
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EasyJet PLC (EZJ)

#278871

Postby idpickering » January 21st, 2020, 7:51 am


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Re: EasyJet PLC (EZJ)

#292453

Postby Wizard » March 19th, 2020, 5:22 pm

I wonder if they will come to regret paying the dividend...

https://www.bbc.co.uk/news/business-51962981

Meanwhile, EasyJet's chief executive Johan Lundgren has defended the payment of £170m in dividends to shareholders, at a time when the company is seeking financial help from the government...

...Meanwhile, EasyJet's chief executive has told the BBC the company is asking for government loans to help it weather the crisis.
He said the company was "first and foremost" trying to save cash. But he added: "Since we don't know how long this thing will last we also think it's appropriate that we're also looking for financing being supported as well from the government."
Such support, he said, would take the form of "loans on a commercial basis".
He defended a £170m dividend to shareholders, due to be made tomorrow, saying it had already been signed off - and the company was legally obliged to make the payment...

idpickering
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Re: EasyJet PLC (EZJ)

#295601

Postby idpickering » March 30th, 2020, 7:42 am

EASYJET STATEMENT - FLEET GROUNDING

As a result of the unprecedented travel restrictions imposed by governments in response to the coronavirus pandemic and the implementation of national lockdowns across many European countries, easyJet has, today, fully grounded its entire fleet of aircraft.


https://www.investegate.co.uk/easyjet-p ... 00079567H/

idpickering
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Re: EasyJet PLC (EZJ)

#312873

Postby idpickering » May 28th, 2020, 7:13 am

easyJet updates the market on capacity, fleet and cost structure plans

Including this bit;

Rightsizing the airline and cost structure

To effect the restructure of our business, easyJet will shortly launch an employee consultation process on proposals to reduce staff numbers by up to 30%, reflecting the reduced fleet, the optimisation of our network and bases, improved productivity as well as the promotion of more efficient ways of working. We will launch the consultation process in the coming days.


http://otp.investis.com/clients/uk/easy ... id=1393257

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Re: EasyJet PLC (EZJ)

#442192

Postby pje16 » September 14th, 2021, 2:43 pm

Rights ratio: 31-for-47
Subscription ratio: 1-for-1
Exercise price: GBP4.10 per new share New shares: 28th September 2021

Views?

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Re: EasyJet PLC (EZJ)

#442197

Postby simoan » September 14th, 2021, 2:50 pm

pje16 wrote:Rights ratio: 31-for-47
Subscription ratio: 1-for-1
Exercise price: GBP4.10 per new share New shares: 28th September 2021the good times

Views?

Rule number 1: Never invest in airlines!! Terrible quality businesses even at the best of times, which it is not right now obviously. Look at the huge amount of Capex that eats up all the cashflow. Easyjet wasn't generating any free cash flow even in pre-pandemic good times in 2018 and 2019.

Rule number 2: never throw good money after bad.

All the best, Si

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Re: EasyJet PLC (EZJ)

#442212

Postby pje16 » September 14th, 2021, 3:11 pm

Don't help me by posting a link to it
I'll hunt round for it :roll:

vrdiver
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Re: EasyJet PLC (EZJ)

#442224

Postby vrdiver » September 14th, 2021, 4:10 pm

pje16 wrote:Don't help me by posting a link to it
I'll hunt round for it :roll:

From the Board Guidelines:
If you add a thread can you follow the convention and in the title have "company name" + "TIDM". If a thread already exists for the company post reply to that thread. If you need to start a new company thread please 'alert' your first post so that Moderators can do some admin. We will only allow ONE thread per company.

I suggest you start your hunt with the guidelines pinned to the top of the board... https://www.lemonfool.co.uk/viewtopic.php?f=94&t=16288

Existing thread for Easyjet: https://www.lemonfool.co.uk/viewtopic.php?f=94&t=21418&p=312873&hilit=Easyjet#p312873

VRD

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Re: EasyJet PLC (EZJ)

#442229

Postby pje16 » September 14th, 2021, 4:24 pm

Thank you VRD
very helpful and now that I know I won't trip up again
I can't edit it now, so if some kind soul wants to merge it please feel free

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Re: EasyJet PLC (EZJ)

#442234

Postby monabri » September 14th, 2021, 4:36 pm

simoan wrote:
pje16 wrote:Rights ratio: 31-for-47
Subscription ratio: 1-for-1
Exercise price: GBP4.10 per new share New shares: 28th September 2021the good times

Views?

Rule number 1: Never invest in airlines!! Terrible quality businesses even at the best of times, which it is not right now obviously. Look at the huge amount of Capex that eats up all the cashflow. Easyjet wasn't generating any free cash flow even in pre-pandemic good times in 2018 and 2019.

Rule number 2: never throw good money after bad.

All the best, Si


They generated free cash flow in 4 out of the last 10 years...yuk!

88V8
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Re: EasyJet PLC (EZJ)

#442305

Postby 88V8 » September 14th, 2021, 8:16 pm

For some mad reason I had a [small] punt on Easyjet a few months ago.
Hopefully I can sell the rights. Not guaranteed, depends on the terms.
With any luck they'll be taken over before they do a Freddy Laker.

V8

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Re: EasyJet PLC (EZJ)

#442316

Postby csearle » September 14th, 2021, 8:47 pm

Moderator Message:
Following the merging of two threads a few redundant posts have been removed. On this particular board there is a requirement to have only one thread per company and for the title to be correctly formatted. That is because there is a company index in the initial thread (which also has the guidelines explaining all this). - Chris

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Re: EasyJet PLC (EZJ)

#442336

Postby Dod101 » September 14th, 2021, 9:42 pm

88V8 wrote:For some mad reason I had a [small] punt on Easyjet a few months ago.
Hopefully I can sell the rights. Not guaranteed, depends on the terms.
With any luck they'll be taken over before they do a Freddy Laker.

V8


Didn't they have a recent offer on a buyout? I do not follow Easyjet but I must say their cash management looks at bit odd. Remember they paid a £170 million dividend very early in the pandemic and then sought financial support from the Government?

Dod

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Re: EasyJet PLC (EZJ)

#442612

Postby 88V8 » September 15th, 2021, 7:20 pm

Sold the rights @ 152p.

V8

idpickering
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Re: EasyJet PLC (EZJ)

#449452

Postby idpickering » October 12th, 2021, 7:09 am

Trading Update for year ended 30 September 2021

easyJet sharply improves YoY headline loss in the quarter with a positive operating cash flow and forward booking momentum

- Q4 headline losses decreased by more than half YoY with positive operating cash generated

- Headline loss before tax for the year ended 30 September 2021 is expected to be between £1,135 million and £1,175 million compared to consensus of £1,175 million.

- easyJet sees positive momentum carried into FY22 with H1 bookings double those of the same time last year.

Summary

During its fourth quarter easyJet flew 17.3 million seats, operating 58% of FY19 capacity with a stronger performance on intra-European and UK domestic routes, whilst demand for international routes from the UK continued to be impacted by UK Government travel restrictions.

easyJet has maintained its disciplined approach to capacity and cash management which resulted in the generation of c.£40 million of operating cash during Q4. Net debt has reduced to c.£0.9 billion from £2.0bn at Q3, following the successful £1.2 billion rights issue, of which £90 million was received after 30 September 2021, coupled with Q4 operating cash generation. The capital raise also provides the airline with a solid platform for growth.

Capacity is now expected to be up to 70% of 2019 levels in Q1. While intra-European demand led the recovery over the summer, the recent UK Government announcement to remove and relax restrictions and testing has created positive booking momentum into Q1. In response, the airline has added 100,000 seats for Q1, with particularly strong demand for winter sun destinations. easyJet expects capacity to continue to grow throughout FY22 and we will take quick and decisive action to capture additional opportunities alongside planned organic growth.


https://www.investegate.co.uk/easyjet-p ... 00047225O/

idpickering
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Re: EasyJet PLC (EZJ)

#493662

Postby idpickering » April 12th, 2022, 7:14 am

Trading statement for the six months ended 31 March 2022.

H1 losses reduced year on year, ahead of market expectations, driven by improved trading and boosted by self-help measures

Summer plans to reach near 2019 capacity unchanged
Strong, sustained recovery in trading since the relaxation of travel restrictions, reflecting the pent-up demand coming out of the pandemic
64% of H2 fuel hedged at $571 per metric tonne, reducing exposure to current fuel price
Outperformed H1 expectations despite challenges from Omicron and rising fuel prices.


https://www.investegate.co.uk/easyjet-p ... 0009EIANU/

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Re: EasyJet PLC (EZJ)

#508404

Postby idpickering » June 20th, 2022, 7:18 am

Summer 2022 Trading Update.

In the quarter ending 30 June easyJet plans to operate around 140,000 flights, carrying around 22m passengers, with capacity planned to be 550% of the same period in 2021. Demand for travel has returned with April and May passengers seven times the same months last year.

Given the unprecedented ramp up, the aviation industry across Europe is experiencing operational issues with root causes similar to the post covid supply chain issues being seen in many other parts of the economy. The challenges include air traffic control delays and staff shortages in ground handling and at airports, resulting in increased aircraft turnaround times and delayed departures which have a knock-on effect resulting in flight cancellations. A very tight labour market for the whole ecosystem including crew, compounded by increased ID check times, has reduced planned resilience further. This is reflected in the flight caps announced recently at two of our biggest airports, London Gatwick and Amsterdam.

In response to these caps and in order to build additional resilience, easyJet is proactively consolidating a number of flights across affected airports. This provides customers with advance notice and the potential to rebook onto alternative flights. Given easyJet’s high frequency network, we expect to be able to rebook the majority of customers on alternative flights, with many being on the same day as originally booked for.

As a result of these pre-emptive actions, easyJet now expects its third quarter capacity, to 30 June 2022, to be around 87% of FY19 levels, and Q4, to 30 September 2022, to be around 90% of FY19 levels. There will be a cost impact from disruption, coupled with the enhanced resilience easyJet is putting in place this summer, from additional wet leased aircraft, crew costs and airport charges. We will therefore exceed the previously provided operating CASK ex fuel guidance. We believe that these capacity/cost impacts are a one-off this summer as we would expect all parties to build greater resilience in time for 2023 peak periods.

Booking momentum has continued with demand for travel this summer remaining strong, with Q3 currently 86% sold with ticket yields up c.2% and Q4 48% sold and ticket yields up c.14%. This Q4 booking position is broadly in line with where we were at the same point in FY19. We will continue to fine tune our schedule in the light of industry conditions as we move through the summer season in order to deliver for our customers.

The medium-term outlook for easyJet remains attractive and in the last couple of days, we have been notified that we have won an additional three aircraft worth of slots at Lisbon Airport. These slots will become available from this winter.

Johan Lundgren, easyJet Chief Executive said:

“Delivering a safe and reliable operation for our customers in this challenging environment is easyJet’s highest priority and we are sorry that for some customers we have not been able to deliver the service they have come to expect from us.

“While in recent weeks the action we have taken to build in further resilience has seen us continue to operate up to 1700 flights and carry up to a quarter of a million customers a day, the ongoing challenging operating environment has unfortunately continued to have an impact which has resulted in cancellations.

“Coupled with airport caps, we are taking pre-emptive actions to increase resilience over the balance of summer, including a range of further flight consolidations in the affected airports, giving advance notice to customers and we expect the vast majority to be rebooked on alternative flights within 24 hours.

“We believe this is the right action for us to take so we can deliver for all of our customers over the peak summer period in this challenging environment.”


https://www.investegate.co.uk/easyjet-p ... 0006EQIKT/

Ian.

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Re: EasyJet PLC (EZJ)

#563786

Postby idpickering » January 25th, 2023, 7:27 am


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Re: EasyJet PLC (EZJ)

#583471

Postby idpickering » April 18th, 2023, 7:20 am

easyJet Trading Update for the six months ended 31 March 2023.

EasyJet improves its first half performance by >£120 million year on year and expects to exceed FY23 market expectations1, driven by network transformation, improved revenue capability and strong demand. Easter saw a robust operational performance with booking momentum continuing into summer

Continued revenue growth through Q2
Passengers2 +35% YoY
RPS +43% YoY
Load factor +10 ppts YoY
Ticket yield +31% YoY
Ancillary yield +16% YoY
Robust Easter operations
Around 1,600 flights per day
99.8% of planned flights operated despite impact from French ATC strikes
Strong bookings continue into summer 2023
Q3 Airline RPS expected to be around +20% YoY
easyJet holidays further upgrades growth expectations to c. 60% YoY
Capacity
H2 c.56m seats, c.9% increase YoY
Q3 Capacity c.26m - +7% YoY
Q4 capacity around pre-pandemic levels – network capacity +8% vs pre pandemic excluding Berlin rightsizing
Whilst we remain mindful of the uncertain macroeconomic outlook across the globe, based on current high levels of demand and strong bookings, easyJet anticipates exceeding current market profit expectations of £260 million for FY23


https://www.investegate.co.uk/easyjet-p ... 0011EGTEN/

Ian.

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Re: EasyJet PLC (EZJ)

#630333

Postby idpickering » November 28th, 2023, 7:06 am

Results for the twelve months ending 30 September 2023.


· Dividends reinstated

- 4.5p per share payable in early 2024

- Expect pay out to increase to 20% of headline PAT on FY24's result

- Potential to increase level of future returns to be assessed over the coming years


https://www.investegate.co.uk/announcem ... ts/7906272

nb The EZJ CEO is being interviewed on Bloomberg TV (UK) shortly.

Ian (No holding).


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