Easyjet - AGM 23 December 2020
Whilst easyJet would normally hold its AGM in February, this year it has decided to bring forward the AGM to December to provide the opportunity for shareholders to engage with the Board prior to the end of the Brexit transition period on 31 December 2020.
Item 1: Annual report and accounts
The Covid-19 pandemic has led to the airline industryns meltdown. As a result, easyJet tumbled deep into the red reporting operating and net losses, the first in its 25-year history.
Item 19: Share buybacks
The Covid-19 pandemic ruined easyJet's ability to generate cash, to survive the group has increased debt and capital, initiated the largest cost-out programme, including a 30% reduction of employees. We have serious concerns to authorise a share buyback up to 10% of the capital.
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.
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