EasyJet PLC (EZJ)
What is easyJet?
easyJet is a leading British airline carrier that operates low-cost flights across Europe. With an extensive airport network, the company operates around 800 routes in over 30 countries. The carrier has strong representation in key airports such as London Gatwick, Edinburgh, Nice Côte d'Azur, Venice Marco Polo, Milan Malpensa, Naples International, Basel Mulhouse Freiburg and Geneva. With 250 Airbus aircraft in its fleet and more than 10,000 members of staff, easyJet carries over 70 million passengers to their destinations every year.
easyJet has a strong capital base, with market capitalisation of around £6.3 billion in February 2018 and a net cash position of £357 million on 30 September 2017. easyJet’s credit ratings are among the strongest in the world for an airline. Our EZJ chart shows how the stock has been performing.
Who are the key people at easyJet?
Johan Lundgren has been easyJet’s Chief Executive since December 2017. With over 25 years’ experience in the travel industry, he was previously in senior executive roles at TUI. One of his first moves at easyJet was to ask the board to reduce his pay to match that of his female predecessor, Carolyn McCall. He said easyJet was “absolutely committed” to giving men and women equal pay and equal opportunity.
Some other key people to look out for at easyJet are Robert Carey, Group Director Strategy and Network, and Chief Operating Officer Chris Browne. John Barton is Non-Executive Chairman – a role he has held since May 2013.
What is the modern history of easyJet?
easyJet was founded in 1995 by Greek Cypriot businessman Stelios Haji-Ioannou – it was the first company in what later became the easyGroup conglomerate. In its early days it had just two leased Boeing 737-200 aircraft at its disposal, initially operating only from London Luton Airport to Glasgow and Edinburgh. In 1996 easyJet got its first wholly owned aircraft and started international flights – initially to Amsterdam.
The company was floated on the London Stock Exchange in 2000. Years of expansion and acquisitions followed: in 2002 easyJet opened its base at Gatwick Airport, and by 2007 it was claiming to be operating more flights per day than any other European carrier. In March 2013 easyJet celebrated another landmark – its promotion to the FTSE 100.
What are the latest developments at easyJet?
Brexit is one of the big issues facing both easyJet and the wider UK airline industry. In July 2017, easyJet announced that it had been granted an Austrian Air Operator Certificate. The move enabled the establishment of Vienna-headquartered easyJet Europe as a subsidiary of easyJet plc, and will allow easyJet to continue operating flights within the EU after Brexit.
In a related move in February 2018, investors at easyJet’s AGM backed the board’s plans to change the company’s shareholder set-up so that it complies with EU ownership rules for airlines after Brexit. Chairman John Barton said the change to easyJet’s articles of association meant the board could ensure the airline was EU owned and controlled at all times after the UK’s departure from the EU, "allowing easyJet to continue to fly between and within EU countries post-Brexit".
To see the latest ups and downs of the easyJet share price, check out Capital.com.
Where does easyJet operate?
easyJet’s head office is at London Luton Airport. As at 30 September 2017 easyJet employed 12,280 people across its network. The airline employs staff on local contracts in eight countries across Europe, and flies to over 30 countries including Israel and Morocco.
Where is easyJet traded?
easyJet stock is listed on the London Stock Exchange (LSE) and is a constituent of the FTSE 100 index. As of 5 February 2018 easyJet was ranked 70th in the FTSE 100 in terms of market capitalisation. Check out Capital.com for the latest EZJ chart.