29 JUNE 2020


Readers are invited to add their comments to any story. Click on the article to see and add.


BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.


Email this Page

The Business Travel News
PO Box 758
Edgware HA8 4QF
United Kingdom
+44 (0)20 8952 8383
© 2020 Business Travel News Ltd.

Article from BTNews 29 JUNE 2020

EasyJet share issue

In line with what is the most disastrous half-year results in the company’s 25 year history easyJet came to the London Stock Exchange last week to raise up to £450m to boost its financial position.

Through the winter period, October-March, traditionally a bad time for holiday airlines, easyJet lost £353m, but this did include £160m in fuel hedging, buying in advance at a fixed price.  It is gambling.  Sometimes you win sometimes you lose.

EasyJet, whose current fleet stands at 344 Airbus A320 family, is flying a very limited programme at present.  The airline said it was funded to £2.4bn before the placement, made up of cash, government-backed loans and credit.  It is in the throes of cutting back 4,500 of its 15,000 staff and last year carried 96.1m passengers.  An announcement regarding the reintroduction of its Luton programme is expected imminently with a rush of revised and new bookings.

Whether major shareholder Sir Stelios Haji-Ioannou will make a further investment remains to be seen.  He is thought to be currently resident in St Barts (Caribbean). His “less than love” with the Board is well known. 


Index/Home page

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum

No one has commented yet, why don't you start the ball rolling?

Add your comment

First Name
Email Address
Company (Not obligatory)
- You must be a registered subscriber using the email address entered to submit a comment, or you will be sent a confirmation email before your comment will appear.
- Your comment will be checked before appearing, which may take several working hours.