The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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: 525.00
Bid: 527.00
Ask: 527.40
Change: 2.20 (0.42%)
Spread: 0.40 (0.076%)
Open: 526.40
High: 535.80
Low: 525.00
Prev. Close: 522.80
EZJ Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

TOP NEWS: easyJet fends off takeover bid, to fundraise GBP1.2 billion

Thu, 09th Sep 2021 08:37

(Alliance News) - easyJet PLC on Thursday said it is planning to raise GBP1.2 billion in a fully underwritten rights issue, sending shares plummeting.

The budget airline added that it recently rejected an unsolicited preliminary takeover approach. The unnamed bidder has since confirmed it is no longer considering a deal, EasyJet said.

"The indicative proposal took the form of a low premium and highly conditional all-share transaction which, in the board's view, fundamentally undervalued the company. In deciding to reject it, the board took into account all relevant factors including the highly conditional nature of the proposal and the certainty and strategic opportunity that the rights issue presented to the company," said easyJet.

Shares in easyJet were down 10.8% at 704.00 pence in London early Thursday, making it the worst performer in the FTSE 250 index in opening trade.

The carrier said the rights issue will help accelerate its recovery from the pandemic and provide it flexibility to pounce on investment opportunities.

As the European aviation market recovers, easyJet expects opportunities to arise at slot-constrained airports as airlines restructure short-haul operations and regulators tighten up on state aid handed out during the pandemic.

Alongside the issue, it has secured new bank financing commitments to boost liquidity. It has agreed a new four-year senior secured revolving credit facility of USD400 million.

"Since the onset of the pandemic, we have undertaken decisive and robust action to restructure our operations, addressed our cost base and secured our financial position, keeping our investment-grade credit rating. We have worked hard to maintain our customer friendly brand and network and been rewarded with immediate growth in demand when travel restrictions have been lifted," said Chief Executive Johan Lundgren.

easyJet said UK domestic capacity in August was more than double pre-pandemic levels, while intra-EU capacity was at 81%.

It expects capacity in the fourth quarter of its financial year, which ends September 30, to strengthen to 57% of pre-virus numbers, compared to just 17% in the third quarter. Then in the first quarter of the 2022 financial year, passenger numbers are expected to reach up to 60% of pre-pandemic levels.

"This capital increase will allow us to build on our fundamental operational strengths and network strategy for our customers as well as accelerate long-term value creation for our shareholders," said Lundgren.

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
9 May 2024 15:51

UK earnings, trading statements calendar - next 7 days

Friday 10 May 
CRH PLCQ1 Results
International Consolidated Airlines Group SAQ1 Results
Rightmove PLCTrading Statement
TBC Bank Group PLCQ1 Results
Monday 13 May 
Burford Capital LtdQ1 Results
Caledonia Mining Corp PLCQ1 Results
Cerillion PLCHalf Year Results
Diploma PLCHalf Year Results
HgCapital Trust PLCQ1 Results
Huddled Group PLCFull Year Results
Team Internet Group PLCQ1 Results
Victrex PLCHalf Year Results
Tuesday 14 May 
Angling Direct PLCFull Year Results
Currys PLCTrading Statement
DCC PLCFull Year Results
Flutter Entertainment PLCQ1 Results
Greggs PLCTrading Statement
Marston's PLCHalf Year Results
On The Beach Group PLCHalf Year Results
Renew Holdings PLCHalf Year Results
Treatt PLCHalf Year Results
Virgin Money UK PLCTrading Statement
Vodafone Group PLCFull Year Results
Wednesday 15 May 
Britvic PLCHalf Year Results
Burberry Group PLCFull Year Results
Compass Group PLCHalf Year Results
Creo Medical Group PLCFull Year Results
Experian PLCFull Year Results
Imperial Brands PLCHalf Year Results
Keller Group PLCFull Year Results
Lords Group Trading PLCFull Year Results
Marshalls PLCTrading Statement
Spirax-Sarco Engineering PLCTrading Statement
Titon Holdings PLCHalf Year Results
TP ICAP Group PLCTrading Statement
Tui AGHalf Year Results
Vertu Motors PLCFull Year Results
Thursday 16 May 
Auction Technology Group PLCHalf Year Results
Bank of Cyprus Holdings PLCQ1 Results
BT Group PLCFull Year Results
Convatec Group PLCTrading Statement
easyJet PLCHalf Year Results
Future PLCHalf Year Results
Grainger PLCHalf Year Results
Helios Towers PLCQ1 Results
Nexus Infrastructure PLCHalf Year Results
Premier Foods PLCFull Year Results
Restore PLCTrading Statement
Sage Group PLCHalf Year Results
Tritax EuroBox PLCHalf Year Results
Tullow Oil PLCTrading Statement
Tyman PLCTrading Statement
United Utilities Group PLCFull Year Results
Vanquis Banking Group PLCTrading Statement
Vistry 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
8 May 2024 16:54

LONDON MARKET CLOSE: Shares rise as eyes turn to Bank of England

(Alliance News) - Stock prices in London closed higher on Wednesday, with the FTSE 100 achieving another record high and markets in a confident mood ahead of Thursday's Bank of England decision.

Read more
7 May 2024 17:30

UK's FTSE 100 notches record closing high in broad rally

FTSE 100 up 1.2%, FTSE 250 adds 1.2%

*

Read more
7 May 2024 16:55

LONDON MARKET CLOSE: FTSE 100 driven higher by US rates optimism

(Alliance News) - Stock prices in London closed higher on Tuesday, in a strong start to the new week, with US interest rate optimism supporting equities.

Read more
7 May 2024 16:32

London close: Stocks jump on return from long weekend

(Sharecast News) - London markets closed on a high note on Tuesday, as the top-flight index surged to record highs, buoyed by positive momentum from the US and European markets.

Read more
7 May 2024 14:37

Ryanair leads airline shares lower after warning over summer fares

MILAN, May 7 (Reuters) - Shares in Ryanair fell more than 4% on Tuesday, leading the broader European airline sector lower after CEO Michael O'Leary said ticket prices were likely going rise by less this summer than previously expected.

Read more
7 May 2024 10:20

Italy and Lufthansa make new offer to EU over ITA deal

Italy's economy ministry and Lufthansa submit new proposals

*

Read more
30 Apr 2024 10:06

Premier Inn owner Whitbread to cut 1,500 UK jobs as it closes some restaurants

Dividend hike of 26% to 62.9p

*

Read more
28 Apr 2024 12:55

Lufthansa, ITA to give up 11 slots in Milan to get EU go ahead for tie-up - newspaper

ROME, April 28 (Reuters) - Germany's Lufthansa and Italian rival ITA will offer to cede 11 pairs of slots a day at Milan's Linate airport in order to secure the EU's green light for their proposed tie-up, Italian newspaper Corriere della Sera reported on Sunday.

Read more
28 Apr 2024 10:34

Lufthansa, ITA to give up 11 slots in Milan to get EU go ahead for tie-up - newspaper

ROME, April 28 (Reuters) - Germany's Lufthansa and Italian rival ITA will offer to cede 11 pairs of slots a day at Milan's Linate airport in order to secure the EU's green light for their proposed tie-up, Italian newspaper Corriere della Sera reported on Sunday.

Read more
24 Apr 2024 09:02

LONDON BROKER RATINGS: Investec cuts Hipgnosis Songs Fund to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

Read more
23 Apr 2024 09:00

LONDON BROKER RATINGS: Jefferies raises Reckitt; Learning Tech is cut

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

Read more
22 Apr 2024 09:04

LONDON BROKER RATINGS: Jefferies raises B&M to 'hold'

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

Read more
19 Apr 2024 16:56

London close: Stocks mixed as investors watch Middle East newsflow

(Sharecast News) - London's stock markets closed in a mixed state on Friday as traders kept a close watch on escalating tensions in the Middle East.

Read more
19 Apr 2024 12:02

LONDON MARKET MIDDAY: Stocks down on Israel attack on Isfahan, Iran

(Alliance News) - Stock prices in London were down at midday on Friday, as equity sentiment suffered by worries of a conflict escalation between Iran and Israel, after Iranian state media reported explosions in the province of Isfahan.

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.