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Pin to quick pickseasyJet Share News (EZJ)

Share Price Information for easyJet (EZJ)

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UPDATE 2-UK PM says foreign travel curbs to stay until at least mid-May

Mon, 22nd Feb 2021 16:49

* Govt to publish review on travel by April 12

* PM says review gives time for summer holiday bookings

* Airlines counting on summer after months of restrictions
(Adds airline, airport reaction, analyst comment, share price)

By Sarah Young

LONDON, Feb 22 (Reuters) - The ban on non-essential
international travel to and from England will stay until at
least May 17, Prime Minister Boris Johnson said on Monday,
prolonging the pain for airlines, airports and holiday companies
hit by the pandemic travel slump.

But would-be holidaymakers will be given clarity on making
plans for the summer by April 12, when a review on how to
restart travel safely will be published.

"The government will determine when international travel
should resume, which will be no earlier than 17 May," it said.

Johnson told parliament that meant there was still time for
Britons to plan summer holidays.

"I believe that setting a deadline of April 12 for the
report ... will give people time to make their plans for summer
and if things go well ... then I do believe there is every
chance of an aviation recovery later this year," he said.

Airlines are counting on a summer recovery after close to a
year with minimal revenues due to travel restrictions. If they
cannot, analysts say most airlines will need to raise more funds
to survive after burning through their cash reserves.

Responding to the government's plans, easyJet
welcomed reassurances that travel would re-open, while British
Airways said it was pleased the government had
acknowledged it was critical to find a way to restart travel.

Shares in both companies closed up 7%, outperforming a 4%
rise in Europe's travel and leisure sector.

But aviation consultant John Strickland said the timeline
was negative for airlines, given certainty on travel was months
away at a time when bookings would usually be flooding in.

"We're already two months into the year so we've lost two
months already. On this news we're going to lose another two
months," he said.

"A number of airlines are already projecting that at least
the first half of summer is pretty well written off and
projecting at best there might be some resurgence of traffic in
the late summer."

The trade body for Britain's airports also said the May 17
date was a blow.

"As the worst-hit economic sector in 2020, this will ensure
we will also be the worst-hit sector of 2021," Airport Operators
Association Chief Executive Karen Dee said.

VARIANTS OF CONCERN

The April review will provide recommendations about when and
how full international travel should resume, while managing the
risks of new variants of coronavirus.

Much will depend on the spread of variants deemed "of
concern", as well as vaccine roll-outs at home and abroad.

Britain tightened its borders earlier in February,
introducing additional COVID-19 testing requirements and hotel
quarantines for arrivals from some countries over worries about
new variants that might be more resistant to current vaccines.

Unwinding restrictions could involve making greater use of
the test to release scheme, under which those arriving from
abroad pay for a test to shorten a 10-day quarantine.

The government is also looking at a system of allowing
vaccinated people to travel more freely abroad, it said.

But such a system would have to be fair and not unduly
disadvantage those who have not been vaccinated, it said,
warning it would take time to implement.

Britain is looking at providing a clear framework for
international travel standards with the World Health
Organization and other partners, the government added.
(Reporting by Sarah Young. Editing by Elizabeth Piper and Mark
Potter)

More News
2 Feb 2024 09:27

LONDON BROKER RATINGS: Barclays raises easyJet and Wizz Air

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

Read more
2 Feb 2024 08:54

LONDON MARKET OPEN: European stocks lifted on Wall Street's gains

(Alliance News) - Stock prices in London opened higher on Friday, closing of a busy week of monetary policy decisions.

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1 Feb 2024 16:48

London close: Stocks turn lower as BoE keeps rates on hold

(Sharecast News) - London's financial markets finished in the red on Thursday, reversing earlier gains after the Bank of England maintained interest rates at current levels.

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1 Feb 2024 15:50

UK shareholder meetings calendar - next 7 days

Friday 2 February 
Tectonic Gold PLCAGM
Monday 5 February 
no events scheduled 
Tuesday 6 February 
Blackrock Frontiers Investment Trust PLCAGM
Qinetiq Group PLCGM re share buyback authorisation
Ten Lifestyle Group PLCAGM
Wednesday 7 February 
Asos PLCAGM
eEnergy Group PLCGM re disposal of Energy Management division
Future PLCAGM
Mosman Oil & Gas LtdEGM re director participation in placing
Premier Miton Group PLCAGM
Thursday 8 February 
Benchmark Holdings PLCAGM
Compass Group PLCAGM
easyJet PLCAGM
Hargreave Hale AIM VCT PLCAGM
Polar Capital Global Healthcare Trust PLCAGM
  
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
1 Feb 2024 13:34

Broker tips: Next, Marshalls, easyJet

(Sharecast News) - Barclays downgraded Next to 'equalweight' from 'overweight' on Thursday but lifted the price target to 8,500p from 8,250p, as it said the valuation is now reasonable.

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1 Feb 2024 12:22

LONDON MARKET MIDDAY: BoE keeps bank rate on hold in split decision

(Alliance News) - London's FTSE 100 was on the up on Thursday afternoon after the Bank of England left interest rates on hold on Thursday, in a split decision.

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1 Feb 2024 09:03

LONDON BROKER RATINGS: Barclays cuts Next; JPMorgan raises easyJet

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

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1 Feb 2024 07:58

JPMorgan upgrades easyJet to 'overweight'

(Sharecast News) - JPMorgan Cazenove upgraded easyJet on Thursday to 'overweight' from 'neutral' as it took a look at European airlines.

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26 Jan 2024 09:07

LONDON BROKER RATINGS: Morgan Stanley ups Rightmove; Deutsche cuts IHG

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

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25 Jan 2024 10:44

RBC Capital lifts easyJet price target after Q1 update

(Sharecast News) - RBC Capital Markets hiked its price target on easyJet to 540p from 500p on Thursday and lifted estimates after the budget airline's first-quarter update a day earlier.

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25 Jan 2024 09:30

Wizz Air's Q3 loss swells on MidEast flight disruptions

Q3 operating loss 180 mln euros vs forecast 93 mln euro loss

*

Read more
25 Jan 2024 09:10

LONDON BROKER RATINGS: JPMorgan raises Admiral Group to 'neutral'

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

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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.

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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.

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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

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