Key Developments: easyJet plc (EZJ.L)
Latest Key Developments (Source: Significant Developments)
easyJet plc announced that for fiscal 2012, it expects pre-tax profit of between GBP310 million and GBP320 million compared with the previous expectation of a pre-tax profit of GBP280 million to GBP300 million. According to I/B/E/S estimates, analysts were expecting the Company to report pre-tax profit of GBP298 million for fiscal 2012. Full Article
Reuters reported that easyJet plc said that it planned to cut flights to and from Madrid by 20% after ceasing to base aircraft and employees there, and would now review options for its eight aircraft and 310 crew members in the capital. The easyJet plc said this was due to a combination of over capacity in the Spanish airline market, leading to low revenue per passenger, as well as rising airport charges. The airline will fly to Madrid from other European cities with higher returns. easyJet plc said it was now reviewing a range of options for its eight Madrid based aircraft and 310 crew and added that all of its pilots and cabin crew would be offered a job in the airline's other bases. Full Article
easyJet plc announced that the Board's expectation for a pre-tax loss for the first half of 2012 is now between GBP110 million and GBP120 million compared with the previous expectation of a pre-tax loss of GBP140 million to GBP160 million and a first half loss in 2011 of GBP153 million. Full Article
LONDON, Dec 11 - Britain's top share index ended slightly lower on Wednesday with a provisional budget deal in Washington raising concerns of a reduction in U.S. stimulus as early as next week.