0R15 8520.0 0.0% 0R1E 8203.0 0.0% 0M69 21090.0 67.5139% 0R2V 226.02 9878.8079% 0QYR None None% 0QYP 412.97 -2.8306% 0RUK 2652.0 -9.2402% 0RYA 1554.0 -0.7029% 0RIH 174.55 -1.3563% 0RIH 165.15 -5.3853% 0R1O 198.5 9800.2494% 0R1O None None% 0QFP None None% 0M2Z 267.777 -0.1763% 0VSO 32.05 -9.9846% 0R1I None None% 0QZI 559.0 0.7207% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 165.7358 2.7149%

mid-cap

Key Update On One Airline Stock - EZJ

Nov 29, 2023 | Team Kalkine
Key Update On One Airline Stock - EZJ

EZJ:LSE
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (GBX)

easyJet PLC (LSE: EZJ)

easyJet PLC (LSE: EZJ) is an FTSE 250 index-listed low-cost airline carrier. It offers short-haul passenger airline services.

FY23 Financial Results (Released on 28 November 2023)

  • Passenger growth: The company reported an increase of approx. 19% in the passengers capacity to 82.8 mn in FY23 against 69.7 mn in pcp. also, the Airline Revenue per Seat increased by 21% to GBP 79.84 in FY23 from GBP 66.23 in pcp.
  • Improved Financials: The revenue of the company improved by 42% to GBP 8,171 mn in FY23 as compared to the revenue of GBP 5,769 mn in pcp on account of increased ticket prices and improved capacity during the reported period. Further, the total net cash of the group stood at GBP 41 mn with GBP 4.7 bn liquidity.
  • Dividends: The company announced a dividend of GBX 4.5 per share which will be paid in early FY24. The dividend could be increased to 20% of the headline PAT of FY24.
  • Outlook & Dividend: The company holds a credit rating of BBB/ Baa3 which are both positive outlooks. Also, the FY24 started on a positive note whereas the year-on-year profit in October and sales per seat were ahead during Q2 FY24 as compared to pcp. Further, the company expects to receive the delivery of approx. 16 new aircrafts in FY24, 19 new aircrafts in FY25 and 27 new aircrafts in FY26.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

easyJet PLC (LSE: EZJ) was trading at the closing market price of GBX 421.20 (as of 28 November 2023)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 28 November 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.


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