Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

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: 536.20
Bid: 535.40
Ask: 535.80
Change: -2.40 (-0.45%)
Spread: 0.40 (0.075%)
Open: 538.00
High: 539.60
Low: 533.60
Prev. Close: 536.20
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
24 Jan 2024 17:03

LONDON MARKET CLOSE: PMI data and China bank measures boost stocks

(Alliance News) - Stock prices in London closed up on Wednesday amid a host of strong PMI data from around the world, while bank measures in China boosted blue-chip miners.

Read more
24 Jan 2024 16:31

London close: Stocks rise on positive news from China

(Sharecast News) - London markets finished with a positive performance on Wednesday, driven by gains in the mining sector following China's announcement of an upcoming reduction in the reserve requirement ratio for banks.

Read more
24 Jan 2024 12:13

EasyJet CEO urges reform after French near-miss tied to controller shortage

LONDON/PARIS, Jan 24 (Reuters) - EasyJet has urged French authorities to resolve air traffic control problems after a report into a near-collision involving one of its jets cited staff shortages and absenteeism.

Read more
24 Jan 2024 12:08

LONDON MARKET MIDDAY: UK PMI data and China bank measures lift mood

(Alliance News) - Stock prices in London were up midday Wednesday, buoyed by data showing the start of the year has been decent for the UK private sector, while mining firms were boosted by efforts out of China to boost growth.

Read more
24 Jan 2024 09:38

easyJet loss narrows; eyes strong summer despite Middle East conflict

(Alliance News) - easyJet PLC on Wednesday said it reduced its losses in the first three months of the year ending September 30, despite suffering a GBP40 million hit from the Hamas-Israel conflict.

Read more
24 Jan 2024 09:28

EasyJet sees strong summer despite Middle East instability

Q1 headline pretax loss 126 mln stg vs 133 mln stg loss yr ago

*

Read more
24 Jan 2024 08:48

LONDON MARKET OPEN: Stocks head higher; miners lead gains for FTSE

(Alliance News) - Stock prices in London opened higher on Wednesday, with large-cap miners outperforming on news of stimulus measures from China.

Read more
24 Jan 2024 07:02

EasyJet sees H1 losses narrowing despite £40m hit from MEast war

(Sharecast News) - Budget airline easyJet said it had taken a £40m hit from the Middle-East conflict, but said it expected first-half losses to narrow and reported positive booking momentum for the summer.

Read more
23 Jan 2024 15:03

Ryanair sees scope to expand further in Italy

Ryanair sees slots freed up by ITA-Lufthansa deal

*

Read more
23 Jan 2024 14:24

Wednesday preview: Global PMIs, EasyJet in focus

(Sharecast News) - The market spotlight on Wednesday was expected to be on preliminary results for a raft of closely-followed economic surveys on either side of the Atlantic.

Read more
23 Jan 2024 09:21

LONDON BROKER RATINGS: HSBC cuts Compass; Berenberg lowers Victrex

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

Read more
22 Jan 2024 14:27

UK earnings, trading statements calendar - next 7 days

Tuesday 23 January 
Aptitude Software Group PLCTrading Statement
Associated British Foods PLCTrading Statement
CC Japan Income & Growth Trust PLCFull Year Results
Crest Nicholson Holdings PLCFull Year Results
FireAngel Safety Technology Group PLCTrading Statement
Henry Boot PLCTrading Statement
Ilika PLCHalf Year Results
Marston's PLCTrading Statement
Premier Foods PLCTrading Statement
Staffline Group PLCTrading Statement
Velocity Composites PLCFull Year Results
Watkin Jones PLCFull Year Results
Wednesday 24 January 
Britvic PLCTrading Statement
Computacenter PLCTrading Statement
easyJet PLCTrading Statement
Fresnillo PLCTrading Statement
Hargreaves Services PLCHalf Year Results
Hochschild Mining PLCTrading Statement
JD Wetherspoon PLCHalf Year Results
Lords Group Trading PLCFull Year Results
PayPoint PLCTrading Statement
PensionBee Group PLCTrading Statement
Quilter PLCTrading Statement
TI Fluid Systems PLCTrading Statement
Tullow Oil PLCTrading Statement
Watkin Jones PLCFull Year Results
Thursday 25 January 
Britvic PLCTrading Statement
Conduit Holdings LtdTrading Statement
CVS Group PLCTrading Statement
Dr Martens PLCTrading Statement
Fevertree Drinks PLCTrading Statement
Foxtons Group PLCFull Year Results
Fuller, Smith & Turner PLCTrading Statement
Halfords Group PLCTrading Statement
Idox PLCFull Year Results
IG Group Holdings PLCHalf Year Results
Intermediate Capital Group PLCTrading Statement
Mitie Group PLCTrading Statement
NCC Group PLCHalf Year Results
Newmark Security PLCHalf Year Results
Next 15 Group PLCTrading Statement
PPHE Hotel Group LtdTrading Statement
Secure Trust Bank PLCTrading Statement
St James's Place PLCTrading Statement
Time Finance PLCHalf Year Results
Titon Holdings PLCFull Year Results
Wizz Air Holdings PLCQ3 Results
Workspace Group PLCTrading Statement
Friday 26 January 
Paragon Banking Group PLCTrading Statement
Record PLCTrading Statement
Superdry PLCHalf Year Results
Taylor Maritime Investments LtdTrading Statement
WH Smith PLCTrading Statement
YouGov PLCTrading Statement
Monday 29 January 
Team Internet Group 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
22 Jan 2024 09:10

LONDON BROKER RATINGS: Citi says 'buy' Segro; Barclays cuts Sage

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Tuesday:

Read more
12 Jan 2024 15:39

London close: Stocks rise on positive UK economic data

(Sharecast News) - London's financial markets closed on a positive note today, buoyed by fresh data indicating that the UK economy had returned to growth in November.

Read more
12 Jan 2024 09:14

LONDON BROKER RATINGS: Goldman likes Glencore; BofA likes easyJet

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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.