The next focusIR Investor Webinar takes places on 14th May with guest speakers from 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: 510.20
Bid: 514.40
Ask: 515.20
Change: -31.40 (-5.80%)
Spread: 0.80 (0.156%)
Open: 550.20
High: 556.40
Low: 500.00
Prev. Close: 541.60
EZJ Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 3-EasyJet and Lufthansa flag turbulent summer for airlines

Thu, 21st Jul 2016 10:55

* EasyJet says can't make profit forecast due to uncertainty

* Lufthansa warns core earnings will be lower this year

* Nice attack, Turkey attempted coup unsettle travellers

* EasyJet shares fall 6 percent, Lufthansa down 7.5 pct (Recasts with more background, detail, updates shares)

By Sarah Young

LONDON, July 21 (Reuters) - Last week's deadly attack inNice and attempted coup in Turkey have created fresh turmoil forEuropean airlines already grappling with the fallout of"Brexit," with easyJet saying it was unable to give an earningsforecast and Lufthansa warning on profit.

EasyJet, Europe's No. 2 low-cost carrier behindRyanair, has in the past given a forecast profit range for thetwelve months ended Sept. 30 at this time of the year, but saidon Thursday security worries, weaker consumer confidence andcurrency volatility were all dragging on its peak summer season.

Lufthansa said late Wednesday its core earningsfor 2016 would be below last year's, downgrading its previousforecast.

The German airline blamed repeated attacks in Europe whichhave dampened advance bookings for long-haul travel to thecontinent, plus what it called greater political and economicuncertainty since March.

Shares in Lufthansa slumped 7.5 percent on Thursday, whilethose of Britain-based easyJet were down 6 percent.

While Lufthansa did not refer to specifics, easyJet saidlast week's truck attack in Nice, France, that killed 84 people,and a failed coup in Turkey, would affect its fiscal fourthquarter, though it couldn't say by how much.

Asked whether this was the most difficult operatingenvironment easyJet had faced since she took the helm in 2010,Chief Executive Carolyn McCall said: "Definitely. I think thatwill be true for all airlines over the last ten years. Thereason for it is there are so many different things."

She also cited Britain's vote last month to leave theEuropean Union, plus easyJet's high level of cancelled flightsdue to air traffic strikes in France.

The "Brexit" vote has caused the value of the pound to fallby about 10 percent, making it more expensive for Britons totravel abroad, and prompted consumer uncertainty. Britain iseasyJet's biggest single market.

TURBULENT TIMES

Many European airlines have seen a hit to demand from astring of deadly attacks in Europe, including one last Novemberthat killed 130 people in Paris, as well as attacks in popularholiday destinations for Europeans such as Tunisia and Egypt.

In June, after the Brexit vote, British Airways-owner IAG also warned on profit.

Analysts currently expect easyJet's pretax profit for theyear ending Sept. 30 will drop 14 percent to 592 million pounds,according to the average of forecasts.

The company's bigger rival, Ryanair has this yearalso seen bookings dampened by security concerns, but at itslast update in May, it was still expecting profit growth of 13percent for the year ending March 2017.

Ryanair has proportionately less exposure than easyJet toboth France and Britain.

EasyJet also faces longer term concerns over its reliance onthe EU set-up to fly the routes it does, whereas Ryanair isbased in Ireland, which remains part of the EU.

Ryanair will report first-quarter earnings on July 25.

Since the Brexit vote on June 23, easyJet shares have lost athird of their value, while Ryanair's are down 17 percent.

Delta Air Lines Inc's decision to sell fewer seatsfrom the United Kingdom this winter also highlights the threatBrexit and new airline competition pose to U.S. airlines, whichhave raked in cash from transatlantic flights.

(Editing by Kate Holton and Mark Potter)

More News
Today 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
Today 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
Today 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
Today 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
Today 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
19 Apr 2024 09:26

LONDON BROKER RATINGS: Peel Hunt starts NatWest and Barclays at 'buy'

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

Read more
19 Apr 2024 08:49

LONDON MARKET OPEN: European stocks slump amid Middle East escalation

(Alliance News) - London's FTSE 100 traded lower in early exchanges, with sentiment hurt by worries of a conflict escalation in the Middle East, after state media in Iran reported explosions.

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.