|Bid||1,373.50 x 0|
|Ask||1,374.00 x 0|
|Day's range||1,372.00 - 1,384.50|
|52-week range||840.00 - 1,384.50|
|Beta (3Y monthly)||0.91|
|PE ratio (TTM)||15.64|
|Earnings date||19 Nov 2019|
|Forward dividend & yield||0.44 (3.20%)|
|1y target est||1,479.74|
Shares in EasyJet (LON:EZJ) are currently trading close to a 52 week high, with the share price up by around 2.46% to 1358.5p over the past week. On a one-mont8230;
Ryanair chief executive Michael O'Leary on Wednesday dismissed accusations that he bullied and forced out his former operations chief Peter Bellew, telling a court he was a highly paid professional who had failed to deliver. Bellew resigned as Ryanair Chief Operations Officer in July and the Irish low-cost carrier, Europe's largest, has asked the Irish High Court to delay his departure to arch-rival easyJet , saying he is subject to a 12-month non-compete clause. Former Malaysia Airlines boss Bellew denies he is subject to the clause and plans to start working with the British airline at the start of next year.
Low-cost airline Ryanair trimmed its passenger traffic forecast on Wednesday, saying it would cut summer capacity and an unspecified number of jobs as a result of further delays in returning Boeing's grounded 737 Max aircraft to service. Ryanair has scrapped planned summer operations from bases in Nuremberg and Stockholm Skavsta, as well as some flights from other bases, "solely due to delivery delays" to MAX jets on order from Boeing, the company said in a statement. "We are continuing to work with Boeing, our people, our unions and our affected airports to minimise these capacity cuts and job losses," Ryanair added.
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.
(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 email@example.com;Nikos Chrysoloras in Brussels at firstname.lastname@example.orgTo contact the editors responsible for this story: Chad Thomas at email@example.com, Chris ReiterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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.
(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 firstname.lastname@example.orgTo contact the editors responsible for this story: Beth Mellor at email@example.com, Jon Menon, Blaise RobinsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Thomas Cook's German airline Condor has drawn substantial interest from potential suitors, the group said on Tuesday, two months after its parent collapsed. Unlike Thomas Cook, Condor received a lifeline from Germany in the form of a 380 million euro ($419 million) bridging loan and filed for investor protection proceedings, which requires that a company is not yet insolvent and can be saved. Condor has remained profitable but signalled that an ownership change was likely, adding it was open to interest from rivals and private equity.
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...
Loss-making Norwegian Air has appointed Jacob Schram as chief executive to take charge of the budget carrier's restructuring as it struggles with a low-cost, long-haul model in an overcrowded industry. Schram, who does not have a background in aviation, joins Norwegian from management consulting company McKinsey and was previously a top executive in the petrol retail industry, Norwegian's board said on Wednesday.
Carbon offsetting, already a multi-billion dollar industry, will get a major boost from the launch of an international scheme to offset aviation emissions, called CORSIA, in 2021. Aviation already accounts for some 2% of global greenhouse gas emissions and green groups have accused the sector of using offsets to try to buy out of the problem cheaply. Carbon offset schemes involve compensating for emissions of the gases which cause global warming by paying for emissions cuts elsewhere.
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.
Shares in easyJet (LON: EZJ) pick up as the firm eyes the package holiday market, but I think there's a need for caution.
EasyJet has said it is going to become the first airline in the world to operate net-zero carbon flights through offsetting emissions made by its planes by, among other things, planting trees. The budget airline said it would invest around £25m over the next financial year in activities including "forestry, renewable and community based projects". EasyJet promised to support the development of hybrid and electric planes and help "reinvent and de-carbonise aviation over the long-term".
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.
European stocks reversed course to close lower in a choppy session on Tuesday as lack of clarity on the progress of trade talks between Washington and Beijing kept investors from making bold bets. The pan-European STOXX 600 index rose 0.5% to its highest level since July 2015 in morning trade but pared gains to closer marginally lower tracking Wall Street's retreat from record highs in early U.S. session. Reports indicated on Monday that Beijing was pessimistic about the prospects of sealing a trade pact with Washington sending markets in a tizzy.
London's FTSE 100 shed most of its earlier gains but still managed to close higher on Tuesday, as sentiment was supported by a surge in safety equipment maker Halma and hopes of more stimulus from economic powerhouse China. The FTSE 250, which had jumped over 1% earlier, ended with a 0.4% gain, still hovering at a 14-month high. Markets are viewing a prospective Tory victory as a positive on hopes that Prime Minister Boris Johnson, with a majority in parliament, will be able to reduce uncertainty by delivering Brexit on or before the Jan. 31 deadline.
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.
Boeing's 737 MAX took centre stage at the Dubai Airshow on Tuesday as airlines announced plans to order up to 50 of the jets worth $6 billion at list prices despite a global grounding in place since March. Kazakhstan flag carrier Air Astana said it had signed a letter of intent to order 30 Boeing 737 MAX 8 jets for its FlyArystan subsidiary. Air Astana, which operates Airbus and Embraer jets in its main network, said it was confident in Boeing's ability to resolve problems with the MAX.