easyJet PLC

EasyJet and its subsidiaries are a low-cost airline carrier operating principally in Europe. Co. operates in the European short-haul aviation market. As of Sept 30 2017, Co. operated 862 routes. Co.'s total fleet as at Sept 30 2017, comprised 279 aircraft, split between 156-seat Airbus A319s, 180-seat A320s, 186-seat A320s and 186-seat A320neos. Co.'s main markets are the U.K., France, Italy, Switzerland, Germany, Netherlands, Portugal and Spain.
  • TickerEZJ
  • ISINGB00B7KR2P84
  • ExchangeLondon Stock Exchange
  • SectorTravel & Leisure
  • CountryUnited Kingdom
Olfa Taamallah ...
  • Yan Derocles

ODDO : Qu’il est loin le temps du surbooking…

Si la trajectoire de retour des capacités en Chine a pu alimenter l’espoir, nous anticipons une reprise une nouvelle fois décalée dans le temps avec une chute du trafic de 60% en 2020 et un rebond limité à 40% en 2021. Les multiples relativement élevés rendent les titres vulnérables à d’éventuelles déceptions ce qui nous pousse à être sélectif. Nous privilégions les valeurs défense comme Thales et Leonardo. Airbus est notre seule recommandation positive sur le civil. Dans l’aérie...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Overbooking now seems like a distant memory...

While the trajectory of the return of capacity in China may have kindled hope, we anticipate a further postponement of the recovery, with a 60% fall in traffic in 2020 and a rebound of just 40% in 2021. The relatively high multiples make the stocks vulnerable to potential disappointments, which leads us to be selective. We prefer defence stocks such as Thales and Leonardo. Airbus is our only positive recommendation in the civil aerospace segment. In the airline segment, we confir...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Overbooking now seems like a distant memory...

While the trajectory of the return of capacity in China may have kindled hope, we anticipate a further postponement of the recovery, with a 60% fall in traffic in 2020 and a rebound of just 40% in 2021. The relatively high multiples make the stocks vulnerable to potential disappointments, which leads us to be selective. We prefer defence stocks such as Thales and Leonardo. Airbus is our only positive recommendation in the civil aerospace segment. In the airline segment, we confir...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Qu’il est loin le temps du surbooking…

Si la trajectoire de retour des capacités en Chine a pu alimenter l’espoir, nous anticipons une reprise une nouvelle fois décalée dans le temps avec une chute du trafic de 60% en 2020 et un rebond limité à 40% en 2021. Les multiples relativement élevés rendent les titres vulnérables à d’éventuelles déceptions ce qui nous pousse à être sélectif. Nous privilégions les valeurs défense comme Thales et Leonardo. Airbus est notre seule recommandation positive sur le civil. Dans l’aérie...

easyJet Plc: easyJet's equity issuance is credit positive

Our assessment of the credit effects of easyJet's share placing

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Stocks

EAFE > EM; Add exposure to Japan Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe developed international (EAFE) will remain in a leadership position relative to EM (MSCI EM). Below we highlight attractive and actionable themes within developed int'l: • Japan, Switzerland, Australia, Canada. Major Japanese indexes have been underperforming for nearly two years but are making bullish price and RS inflections and exhibit early signs of bottoming. Switzerland, Australia, and Canada are all trading at multi-year highs and are among the most attractive coun...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Squarely in the neutral camp At this point in time the major global indexes (MSCI ACWI, ACWI ex-US, EAFE, EM) have failed to break above their respective resistance levels, leaving us squarely in the neutral camp. • We need to see more from cyclical value. We believe the aforementioned major global indexes are likely to remain below resistance or have limited upside unless and until we see more definitive signs of bottoming within cyclical value areas of the market (e.g., Materials, Energy, banks, major autos & parts, etc.)... see page 2. • Indicators supportive of a neutral outlook. Sever...

Jérôme VINERIER

Analyse court terme - EASYJET : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 1 313,40 p prochainement. Le prochain objectif est à 1 108,33 p, puis 989,70 p. Le franchissement de 1 435,50 p remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - EASYJET : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at 1,313.40 p. The next target is at 1,108.33 p, then 989.70 p. Passing 1,435.50 p would question the continuation of the fall.

Jérôme VINERIER

Short term view - EASYJET : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at 1,108.33 p. The background trend would be questioned should prices rise above 1,435.50 p.

EasyJet: 1 director bought

A director at EasyJet bought 7,032 shares at 711p and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members al...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Qu’il est loin le temps du surbooking…

Si la trajectoire de retour des capacités en Chine a pu alimenter l’espoir, nous anticipons une reprise une nouvelle fois décalée dans le temps avec une chute du trafic de 60% en 2020 et un rebond limité à 40% en 2021. Les multiples relativement élevés rendent les titres vulnérables à d’éventuelles déceptions ce qui nous pousse à être sélectif. Nous privilégions les valeurs défense comme Thales et Leonardo. Airbus est notre seule recommandation positive sur le civil. Dans l’aérie...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Overbooking now seems like a distant memory...

While the trajectory of the return of capacity in China may have kindled hope, we anticipate a further postponement of the recovery, with a 60% fall in traffic in 2020 and a rebound of just 40% in 2021. The relatively high multiples make the stocks vulnerable to potential disappointments, which leads us to be selective. We prefer defence stocks such as Thales and Leonardo. Airbus is our only positive recommendation in the civil aerospace segment. In the airline segment, we confir...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Overbooking now seems like a distant memory...

While the trajectory of the return of capacity in China may have kindled hope, we anticipate a further postponement of the recovery, with a 60% fall in traffic in 2020 and a rebound of just 40% in 2021. The relatively high multiples make the stocks vulnerable to potential disappointments, which leads us to be selective. We prefer defence stocks such as Thales and Leonardo. Airbus is our only positive recommendation in the civil aerospace segment. In the airline segment, we confir...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Qu’il est loin le temps du surbooking…

Si la trajectoire de retour des capacités en Chine a pu alimenter l’espoir, nous anticipons une reprise une nouvelle fois décalée dans le temps avec une chute du trafic de 60% en 2020 et un rebond limité à 40% en 2021. Les multiples relativement élevés rendent les titres vulnérables à d’éventuelles déceptions ce qui nous pousse à être sélectif. Nous privilégions les valeurs défense comme Thales et Leonardo. Airbus est notre seule recommandation positive sur le civil. Dans l’aérie...

Olfa Taamallah ...
  • Yan Derocles

EasyJet : A broadly reassuring message

>H1 in line with expectations and £ 400-450m capital increase launched - EasyJet's detailed first-half results to end-March 2020 were in line with expectations, with an underlying pre-tax loss of £ 193m (vs guidance of between £ 185m and £ 205m) and vs a loss of £ 275m in H1 2019. This loss includes: i/ an increase in unit revenues at constant forex of around 10.2% reflecting the good showing in Q1 and January and February prior to the travel restrictions due to the c...

easyJet Plc: easyJet's equity issuance is credit positive

Our assessment of the credit effects of easyJet's share placing

easyJet Plc: Update following downgrade to Baa3 from Baa2, outlook negative

Our credit view of easyJet Plc, reflecting liquidity, scenario analysis and impact on credit metrics and balance sheet of the coronavirus crisis

Moody's downgrades easyJet to Baa3 from Baa2; outlook negative

Rating Action: Moody's downgrades easyJet to Baa3 from Baa2; outlook negative. Global Credit Research- 28 May 2020. London, 28 May 2020-- Moody's Investors Service, has today downgraded easyJet Plc's issuer rating to Baa3 from Baa2.

Delphine Chauvin

Air France-KLM : Le secteur a besoin d’être réanimé

L’IATA estime que le Covid-19 va faire perdre plus de 300 mds USD de revenus au transport aérien en 2020 et il est évident que les compagnies européennes font face à une crise d’une violence difficilement imaginable il y a quelques mois, sans commune mesure avec l’impact du SRAS en 2003 ou de la crise financière en 2008, pour lesquelles elles avaient déjà mis plusieurs années à se remettre. - Sans aides, plusieurs d’entre elles risquent la faillite, et même les plus solides prédis...

Delphine Chauvin

Air France-KLM : The sector needs reviving

With the IATA estimating that Covid-19 will result in more than $ 300bn of lost revenues for the air transport sector in 2020, European airlines clearly face a crisis of a severity hard to imagine a few months ago, far surpassing the impacts of SARS in 2003 or the financial crisis in 2008, which took them several years to recover from. - Without aid, several of them are at risk of going out of business, and even the most solid carriers forecast unprecedented cash burn. - There are a...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Jean Sassus
  • Jean Danjou
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/25/2020

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Jean Sassus
  • Jean Danjou
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/06/2020

...

Alain William ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Florent Laroche-Joubert
  • Jean Danjou
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/17/2020

The impacts of the COVID-19 pandemic are massive on the hotel/leisure sector (2020e EPS forecast down 41%). They undermine the weakest players. Our preference henceforth goes to the most resilient business models and the most solid balance sheets; Advantage Accor and Whitbread. Cf. report published last evening. - ...

Alain William ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Florent Laroche-Joubert
  • Jean Danjou
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 17/04/2020

Les impacts de la pandémie du COVID-19 sont colossaux sur le secteur de l’hôtellerie/loisirs (BPA 2020 attendus en baisse de 41%). Ils mettent à mal les acteurs les plus fragiles. Nous privilégions désormais les business models les plus résilients et les bilans les plus solides : avantage à Accor et Whitbread. Cf. étude publiée hier soir. - ...

Alain William ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Emira Sagaama
  • Fatma Ayachi
  • Jean-François Granjon
  • Jeremy Garnier
  • Martial Descoutures
  • Nicolas Thorez
  • Olfa Taamallah
  • Oussema Denguir
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 04/01/2020

We simulated the impact of COVID-19 on companies in our universe of coverage from an operating viewpoint. Setting target prices is a risky business amid uncertainty and very rapid movements in the financial markets, reacting more to political/sanitary news flow than to corporate disclosures. However, we tried to include the increase in the perceived risk premium and the change in aggregates in our valuations. As the current crisis is set to have radically different impacts on the twen...

EASYJET PLC. sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of EASYJET PLC. (GB), active in the Airlines industry. As regards its fundamental valuation, the title now shows 3 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date February 14, 2020, the closing price was GBp 1,498.50 and its target price was estimated at GBp 1,143.25.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Easyjet - EGM 14 July 2020

Easyjet plc called this meeting to approve an additional tranche for the non-pre-emptive placing of ordinary shares. A total of 59,541,498 new ordinary shares (14.99% of the capital) was placed on 25 June 2020 at a price of 703p per share (5% discount to the closing share price the day before). The raised gross proceeds amount to £419m. Together with the anticipated remaining proceeds from the sale and leaseback programme of £200-350m, the Company would expect to have a cash balance over £3.0bn, providing a significant liquidity buffer to enable it to navigate further grounding or protracted ...

Expert Corporate Governance Service (ECGS)

Easyjet – AGM 22 May 2020

This extraordinary general meeting was called by companies controlled by Sir Stelios Haji-Ioannou, the founder and main EasyJet shareholder with 34% of the capital. He proposes to remove from the Board the Chairman John Barton, the CEO Johan Lundgren, the CFO Andrew Findlay and an Independent Non-Executive Director Andreas Bierwirth.   This proposal is a result of a long-standing disagreement between Sir Stelios Haji-Ioannou and the Board on the fleet renewal and orders of new aircraft from Airbus. Sir Stelios Haji-Ioannou would like the Board to cancel the contract with Airbus for 107 aircr...

Expert Corporate Governance Service (ECGS)

Easyjet - AGM 06 February 2020

Item 2 Advisory vote on the remuneration report: the remuneration is not over-complex, has an appropriate long-term focus and has been sufficiently justified in light of the company's specific circumstances and strategic objectives. The performance measures used in the incentive pay elements are sufficiently linked to the key performance indicators identified in the business review. There is a safety underpin for bonus. The remuneration level is acceptable, the performance conditions are challenging enough to recommend approval. Item 14: the Board welcomes Catherine Bradley CBE, a new indepen...

EasyJet PLC – Proxinvest Corporate Governance Rating ® : A

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

EasyJet - February 07th, 2019

Item 2: Approve the Remuneration Report The structure is weighted more towards rewarding long-term performance, the payout is adequately aligned with performance, and the quantum is not excessive.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch