22 SEPTEMBER 2014

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Article from BTNews 22 SEPTEMBER 2014

easyJet Capital Markets Day

Luton-based easyJet marked what it called its Capital Markets Day with the announcement that its dividend would now be 40% of pre-tax profit, compared to the one-third it previously paid out.  All 9,000 staff members benefit, automatically becoming shareholders after one year’s service.

The airline made an impressive 115-page presentation to analysts and large investors, a detailed and comprehensive document comprehensibly exploring the nuances and financial consideration of the European airline market. 

EasyJet also announced an agreement with Airbus to exercise existing options over 27 current generation A320 aircraft for delivery between 2015 and 2018.

Perhaps predictably the company’s largest shareholder, Sir Stelios Haji-Ioannou, representing the family interest, was not happy saying that the moves were “destructive to shareholder value”, this coming from an association that has realised around £200m over the last three years and a dramatic growth in share value.  What would have his policies produced? 

EasyJet says that it is growing by 6% essentially concentrating on the 20 or so major airports in Europe, with the obvious exception of Heathrow.  In fact in many respects it does not compete with its so-called rival Ryanair who has traditionally sought cheaper airports, often great distances from the cities they are nominally named after.  http://corporate.easyjet.com (please note large file)

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