Less Ads, More Data, More Tools Register for FREE

Pin to quick pickseasyJet Share News (EZJ)

Share Price Information for easyJet (EZJ)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 530.00
Bid: 533.80
Ask: 534.20
Change: 0.00 (0.00%)
Spread: 0.40 (0.075%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 530.00
EZJ Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

RPT-UPDATE 2-Norwegian Air sees faster 2017 capacity growth after record Q3 earnings

Thu, 20th Oct 2016 09:15

(Repeats to add link to story on European airlines)

* Q3 is best quarterly result ever

* Shares jump more than 5 pct

* Sees 30 pct 2017 capacity growth, up from 18 pct in 2016

* No impact on bookings from Brexit vote

By Joachim Dagenborg

OSLO, Oct 20 (Reuters) - Budget airline Norwegian AirShuttle said its capacity growth will speed up in 2017as it rapidly expands low-cost flights to the United States andother long-haul destinations.

Europe's third-largest low-cost carrier by revenue afterRyanair and easyJet reported recordthird-quarter earnings, beating market expectations with a 20percent rise in net profit.

The airline said its capacity growth, measured by availableseat kilometres (ASK), would be 30 percent next year, up from 18percent in 2016. ASK measures an airline's passenger-carryingcapacity.

Norwegian will have 32 new aircraft, including ninefuel-efficient Dreamliners, from Boeing Co enteringoperation next year, bringing its total fleet to 144 byend-2017.

"The overall development is good in all markets, and thebiggest growth is in Spain, particularly on domestic routes. Theroutes between London and Paris and the U.S. are in highdemand," Chief Executive Bjoern Kjos said in a statement.

Norwegian has launched flights to the Middle East, southeastAsia and the United States, as well as expanding routes in itscore European market, taking its low-cost offer into thelong-haul market. It has even offered an eye-catching promise of$69 fares to cross the Atlantic.

Unlike many of its European peers, Norwegian has been spareda negative impact from Britain's vote in June to leave theEuropean Union.

"We are monitoring the post-Brexit situation in the UK anddon't see any effects in bookings so far," Chief FinancialOfficer Frode Foss told a news conference.

Germany's Lufthansa lifted its 2016 profit targetlate on Wednesday, after business bookings proved stronger thanexpected in September, sending the share up by some 7.7 percentby 0750 GMT.

Earlier this week Ryanair cut its annual profit forecasthowever due to a weaker pound. EasyJet, which depends on Britainfor around half of sales, has already cut its profit forecast bya quarter for the year following the Brexit vote.

Competition remains fierce and Ryanair said it expected toboost its market share in the coming months by selling moretickets at cheaper prices.

Shares in Norwegian jumped more than 5 percent on Thursdaybut are still down around eight percent so far this year,outperforming Ryanair and easyJet, which are down 16 and 46percent respectively.

"The report was clearly above expectations, booking remainsgood and cost performance solid," SEB analyst Kenneth Sivertsensaid in a note to clients, adding that 2017 earnings estimatescould rise by 5-10 percent. SEB has a "buy" rating on the stock.

Norwegian's third-quarter net profit was its best quarterlyresult ever, and came in at 992 million Norwegian crowns($121.83 million), 19 percent above last year, beatingexpectations for 943 million crowns in a Reuters poll.

Its unit cost (CASK) is still seen at 0.38 crowns this year,while unit costs next year were targeted at 0.38-0.39 crowns.

(Reporting by Joachim Dagenborg and Stine Jacobsen, writing byStine Jacobsen, editing by Terje Solsvik and Adrian Croft)

More News
18 Apr 2024 17:08

London stocks gain on upbeat corporate earnings

FTSE 100 up 0.4%, FTSE 250 adds 0.6%

*

Read more
18 Apr 2024 16:52

LONDON MARKET CLOSE: Stocks recover some of recent Fed talk losses

(Alliance News) - Stock prices in London closed up on Thursday, despite the prospect of higher for longer US interest rates hanging over stocks, while initial jobless claims for the week came in steady.

Read more
18 Apr 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 up despite hawkish Fed rates outlook

(Alliance News) - Stock prices in London were higher on Thursday afternoon, despite the prospect of higher for longer US interest rates hanging over stocks.

Read more
18 Apr 2024 09:05

TOP NEWS: easyJet hails revenue surge as summer demand sound

(Alliance News) - easyJet PLC on Thursday reported a "positive outlook" for the remainder of its financial year, as it trimmed "seasonal losses" in its first half.

Read more
18 Apr 2024 08:59

LONDON MARKET OPEN: Europe up as overlooks New York tech sell-off

(Alliance News) - Stock prices in London opened higher on Thursday, with the FTSE 100 supported by some promising corporate updates.

Read more
18 Apr 2024 08:20

easyJet posts significant reduction in winter losses

(Sharecast News) - Low-cost airline easyJet reported a significant reduction in its winter losses in an update on Thursday, of more than £50m year-on-year, as demand for flights and holidays continued to rise, particularly for the upcoming summer season.

Read more
18 Apr 2024 07:49

LONDON BRIEFING: Embattled Hipgnosis Songs Fund agrees takeover

(Alliance News) - London's FTSE 100 is called to open higher on Thursday, shaking off a miserable session for US tech shares overnight.

Read more
16 Apr 2024 15:20

Easyjet suspends flights to Israel until October

(Sharecast News) - Budget carrier easyJet on Tuesday said it had suspended flights to Tel Aviv until October 27 after Iran's missile and drone attack against Israel on Saturday night.

Read more
15 Apr 2024 15:39

London close: Stocks slip on renewed geopolitical tensions

(Sharecast News) - London's equity markets markets experienced a downturn on Monday, with losses particularly notable in the mining and oil sectors, as investors remained cautious amid to escalating geopolitical tensions in the Middle East.

Read more
12 Apr 2024 17:28

FTSE 100 sets near record close as commodity stocks shine

FTSE 100 up 0.9%, FTSE 250 off 0.3%

*

Read more
12 Apr 2024 16:56

LONDON MARKET CLOSE: Miners lift FTSE 100 but sea of red elsewhere

(Alliance News) - London's FTSE 100 defied a tricky day for wider markets, as its miners and oil producers shone, while the dollar was supported as odds of the US Federal Reserve enacting three interest rate cuts this year dwindle.

Read more
11 Apr 2024 16:53

LONDON MARKET CLOSE: Dwindling US Fed cut hope unnerves markets

(Alliance News) - Stock prices in London closed lower on Thursday, with a hawkish interest rate outlook for the Federal Reserve and geopolitical tensions hurting investor enthusiasm.

Read more
11 Apr 2024 15:56

London close: Stocks finish lower as ECB stands pat

(Sharecast News) - London's stock markets finished in negative territory on Thursday, as investors reacted to the European Central Bank's latest policy announcement and a producer price index release in the United States.

Read more
11 Apr 2024 15:04

UK earnings, trading statements calendar - next 7 days

Friday 12 April 
SigmaRoc PLCTrading Statement
Monday 15 April 
Ashmore Group PLCTrading Statement
Ceres Power Holdings PLCFull Year Results
Engage XR Holdings PLCFull Year Results
Itaconix PLCFull Year Results
Mitie Group PLCTrading Statement
PageGroup PLCTrading Statement
Tuesday 16 April 
Accesso Technology Group PLCFull Year Results
Ashtead Technology Holdings PLCFull Year Results
Billington Holdings PLCFull Year Results
Chapel Down Group PLCFull Year Results
Equals Group PLCFull Year Results
Gattaca PLCHalf Year Results
Gresham Technologies PLCFull Year Results
IntegraFin Holdings PLCTrading Statement
Learning Technologies Group PLCFull Year Results
Next 15 Group PLCFull Year Results
Ninety One PLC and LtdTrading Statement
Oxford Instruments PLCTrading Statement
Qinetiq Group PLCTrading Statement
Petra Diamonds PLCTrading Statement
Robert Walters PLCTrading Statement
Team17 Group PLCFull Year Results
Wednesday 17 April 
Brooks Macdonald Group PLCTrading Statement
Hays PLCTrading Statement
Inspecs Group PLCFull Year Results
Liontrust Asset Management PLCTrading Statement
M Winkworth PLCFull Year Results
Menhaden Resource Efficiency PLCFull Year Results
Rio Tinto PLCTrading Statement
Saga PLCFull Year Results
Thursday 18 April 
AJ Bell PLCTrading Statement
BHP Group LtdTrading Statement
Devolver Digital IncFull Year Results
Dunelm Group PLCTrading Statement
easyJet PLCTrading Statement
Foxtons Group PLCTrading Statement
Keystone Law Group PLCFull Year Results
LBG Media PLCFull Year Results
Pod Point Group Holdings PLCFull Year Results
Rentokil Initial PLCTrading Statement
Segro PLCTrading Statement
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
10 Apr 2024 11:42

easyJet cabin crew secure 20pc rise in base pay

(Sharecast News) - Cabin crew at low-cost airline easyJet are to receive a 20% increase in their basic pay, it was announced on Wednesday, after negotiations with the Unite union.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.