UK markets closed
  • FTSE 100

    7,234.03
    +26.32 (+0.37%)
     
  • FTSE 250

    22,984.24
    +123.85 (+0.54%)
     
  • AIM

    1,229.10
    +4.02 (+0.33%)
     
  • GBP/EUR

    1.1842
    +0.0057 (+0.49%)
     
  • GBP/USD

    1.3743
    +0.0066 (+0.48%)
     
  • BTC-GBP

    45,123.71
    +3,024.45 (+7.18%)
     
  • CMC Crypto 200

    1,458.14
    +51.40 (+3.65%)
     
  • S&P 500

    4,471.37
    +33.11 (+0.75%)
     
  • DOW

    35,294.76
    +382.20 (+1.09%)
     
  • CRUDE OIL

    82.36
    +1.05 (+1.29%)
     
  • GOLD FUTURES

    1,767.90
    -30.00 (-1.67%)
     
  • NIKKEI 225

    29,068.63
    +517.70 (+1.81%)
     
  • HANG SENG

    25,330.96
    +368.37 (+1.48%)
     
  • DAX

    15,587.36
    +124.64 (+0.81%)
     
  • CAC 40

    6,727.52
    +42.31 (+0.63%)
     

Easyjet CEO says BA plan for Gatwick not ‘something we will lose sleep over’

·1-min read
EasyJet sees signs of recovery (David Parry/PA) (PA Wire)
EasyJet sees signs of recovery (David Parry/PA) (PA Wire)

Easyjet today insisted that recovery “is under way” even as it predicted losses for the year to September of more than £1.1 billion.

It insisted it is not worried about rival BA’s plans to launch a short-haul hub at Gatwick.

CEO Johan Lundgren said: “We have proven that we can compete against any airline. We will have to wait and see what they do. It is not something we will lose any sleep over.”

Bookings have “momentum”, running at double what they were a year ago.

A move last year to lift travel restrictions on many destinations saw air and travel shares jump last week. All airlines say there has been a race to book flights and holidays.

Lundgren added: “During the quarter easyJet significantly ramped up its flying which meant we were the second largest airline operating in Europe this summer while also halving our Q4 losses versus last year.”

He added: "It is clear recovery is under way. Business travel is returning to easyJet with corporates and SMEs attracted by our value, network and approach to sustainability. We have seen city breaks beginning to return alongside growing demand for leisure travel from customers looking for flights and holidays to popular winter sun destinations including Egypt and Turkey.”

Easyjet earlier completed a £1 billion rights issue that strengthens its balance sheet. It also fended off a takeover bid from smaller rival Wizz Air.

Easyjet shares are up more than 50% in the last 12 months. Today they opened at 648p.

Read More

EasyJet sees 400% jump in sales following relaxation of UK travel test rules

Travel and hotel shares jump as Covid holiday restrictions end

Virgin Atlantic requires new flight crew to be fully vaccinated

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting