The low cost airline reported earnings today, with its performance in what can only be described as delayed. The airline slumped to a 6 month loss of £236 million, whilst the winter period has historically been a negative period for EasyJet. What makes this slightly concerning is that they also flew a record number of passengers over the same period. With the company still reeling from a weaker Sterling from Britain’s decision to leave the EU: important as the company makes at least halves it revenues in Sterling.
Going forward, its chief executive today, Carolyn McCall, commented that bookings for the summer are ahead of last year and that generally consumers continue to prioritise flights and holidays above non-essential items. Investors, however, don’t share this sentiment – with the shares are lower today: down by 5.65% at 1236 points.
Jordan Hiscott, Chief Trader
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