Wizz Air flies past airline gloom with upbeat profit predictions April 2, 2019 Ftse 250 airline Wizz Air said it expects net profit for the year to land in the upper half of its expected guidance, in a trading update today. The announcement follows a gloomy update yesterday from fellow low cost airline Easyjet which led to a nearly 10 per cent dip in its share price, and [...]
Easyjet shares lose altitude on weaker passenger traffic outlook April 1, 2019 Easyjet was the biggest faller on the FTSE 100 today – closing down 9.7 per cent – after investors baulked at the low-cost carrier's 'cautious' outlook for the second half. Budget airline Easyjet said earlier today it is “more cautious” in its outlook for the second half of the year, blaming macroeconomic uncertainty and Brexit for [...]
UK matches EU offer to protect flying rights in event of no-deal Brexit March 7, 2019 The UK government has said it will match the EU's offer to protect flying rights in the event of a no-deal Brexit, allowing planes to take off unhindered after 29 March. The Department for Transport (DfT) said it had "adopted this approach to provide reassurance and minimise disruption — providing a cushion during which future [...]
Easyjet confirms talks over possible bid for struggling airline Alitalia February 14, 2019 Easyjet confirmed it is in talks over a possible acquisition of struggling airline Alitalia this morning. The British budget flyer may launch a consortium bid for the airline with Ferrovie dello Stato Italiane and Delta Air Lines for the company. Read more: Flybe directors give shareholders ultimatum over takeover bid Easyjet said the trio wanted [...]
Gatwick drone chaos costs Easyjet £15m but shares rise as profits stay the course January 22, 2019 Drone disruption at Gatwick cost Easyjet £15m, the airline revealed today, as it said that 82,000 passengers were affected by the incident, but shares rose as profits stayed the course. Easyjet was forced to spend £10m in customer welfare costs and lost £5m in revenue, it confirmed in a trading update this morning, as it [...]
Airline stocks enjoy share price bump following positive forecast for 2019 January 21, 2019 Several airline stocks have enjoyed share price bumps today following a positive note on European airlines by Davy Research. Air France-KLM, Norwegian and Thomas Cook were among the airlines that enjoyed spikes in their share price, with the Franco-Dutch carrier enjoying a near 5 per cent rise. Norwegian's share price increased by 3.52 per cent [...]
FTSE 100 index rises on hopes of US – China trade war breakthrough January 18, 2019 The FTSE 100 is up more than one per cent this morning on hopes of a breakthrough in trade talks between the US and China. The index was boosted by hopes of progress in the trade war, which were sparked by news reports suggesting that the US is considering reducing tariffs on Chinese imports. Read more: Markets lift [...]
Mark Kleinman’s big predictions for the Square Mile in 2019 January 11, 2019 Sir Martin Sorrell’s WPP exit, Unilever’s HQ U-turn, Melrose’s swoop for GKN: 2018 was a year full of surprises in the City. And while forecasting might be a fool’s errand, here are 10 predictions for the year ahead. •Theresa May will decisively lose next week’s “meaningful vote” on Brexit: that’s not a punt that will [...]
Ryanair named ‘worst short-haul airline’ for sixth year in a row January 5, 2019 Ryanair has been named the UK’s worst short-haul airline for the sixth year in the row. A passenger survey, carried out by Which, put the Irish budget airline at the bottom of 19 carriers flying from the UK. Ryanair achieved a customer score of 40 per cent compared to a 63 per cent score for [...]
Wizz Air to overtake Easyjet as Luton Airport’s largest airline with arrival of new routes from next summer December 17, 2018 Ultra low-cost carrier Wizz Air has said it will overtake Easyjet as Luton airport's largest carrier once six new routes come into force from next summer. Wizz Air UK, a subsidiary set up as a Brexit contingency plan, will bring in two new Airbus A321CEO aircraft from next summer, along with six new routes. The announcement [...]