It was no great surprise to see easyJet leading the FTSE higher today as it reported strong revenue jump for the last 3 months of 2017. Their statement released this morning cited various factors for the revenue increase such as capacity growth, efficiencies in filling up its seats and even the foreign exchange market. However, the demise of other airlines such as Monarch, Air Berlin and the calamity surrounding Ryanair’s pilot shortage were undoubtedly major factors also. New CEO Johan Lundgren believes passenger growth will continue to be strong in 2018 and that the company is well positioned for future growth.
easyJet’s shares this morning are currently trading at £16.60, up over 6%. From a technical perspective, their shares have broken strong resistance area around the £15.50 mark and I wouldn’t be surprised to see a continued move higher to the £18 mark over the next few months.
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