Markets boost easyJet shares despite H1 losses

By
1 mins. to read
Markets boost easyJet shares despite H1 losses
Markus Mainka / Shutterstock.com
Master Investor Magazine

Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

FTSE 100 budget airline easyJet (LON:EZJ) has seen its share price ascend 4.88% to 1,020.50p (as of 14:40 BST) after it announced that revenues rose by 7.3% during the six months ended 31st March. However, revenues per seat dropped by 6.3% and the company booked a pre-tax loss of £272 million for the period.

CEO John Lundgren commented: “I am pleased that despite tougher trading conditions, we flew more than 41 million customers, up 13% on last year, performed well operationally with 54% fewer cancellations in the period and customer satisfaction with our crew is at an all-time high. We have also continued to make good progress on our strategic initiatives in holidays, loyalty, business and with data.

“Cost control remains a major priority for easyJet. Our focus is on efficiency and on innovation through data and we are on track to deliver more than £100m in cost savings during 2019.

“We are well-equipped to succeed in this more difficult market through a number of short term customer and trading initiatives for the summer; measures to improve our operational resilience; and by focusing on what is most important to customers – value for money, punctuality and great customer service. All this is underpinned by a market leading balance sheet“.

.

Take part in our poll

Which asset managers’ products do you hold?


The Master Investor Show 2020 tickets are now available. Join us at the Business Design Centre on Saturday 28 March 2020.

Book your FREE tickets today using code: MIBLOG

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.