EasyJet-5
It is inevitable that there will be a long climb back required for the airline industry post COVID-19. But what is the source for this "best estimate" that business will only recover to 20-30% of prior levels? Perhaps the immediate restart period will see those levels, as operators will have few advance bookings at the point of relaunch. But I would expect substantial growth from there quite quickly. Not to pre C-19 levels, but certainly to well beyond 30% of previous capacity.
In terms of speculating on fleet size for individual carriers, I would suggest it is way too early for this. We need to know the duration of the crisis, which carriers receive state support, and which fail. We need to know where markets are left unserved. For the carriers which emerge from this: CRISIS = OPPORTUNITY (as the Chinese say). If several established names fall by the wayside, the survivors will have some lucrative market gaps to expand into. A land-grab opportunity will arise. Slots at previously constrained major airports. Fleet strength and deployment will depend on which carriers remain to take advantage of the situation. Let's hope that EASYJET will be amongst this fortunate group.
In terms of speculating on fleet size for individual carriers, I would suggest it is way too early for this. We need to know the duration of the crisis, which carriers receive state support, and which fail. We need to know where markets are left unserved. For the carriers which emerge from this: CRISIS = OPPORTUNITY (as the Chinese say). If several established names fall by the wayside, the survivors will have some lucrative market gaps to expand into. A land-grab opportunity will arise. Slots at previously constrained major airports. Fleet strength and deployment will depend on which carriers remain to take advantage of the situation. Let's hope that EASYJET will be amongst this fortunate group.
Join Date: Sep 2012
Location: NW England
Posts: 148
Likes: 0
Received 0 Likes
on
0 Posts
Indeed. Forced out a few years later as the F1 team were not improving and sold his 25% stake a few months after that. I understand Ron Dennis is no longer involved with McLaren in any way. A massive fall from grace for a man that made McLaren into what it is today and the face of the company during its glory days on track, but it's also an extension of the fallout between him and another shareholder who he was once friends with.
Despite my suggestion yesterday, the McLaren/Ron Dennis tale should serve as a warning of what could happen if it goes wrong.
Anyway, this is going off-topic a bit!
Despite my suggestion yesterday, the McLaren/Ron Dennis tale should serve as a warning of what could happen if it goes wrong.
Anyway, this is going off-topic a bit!
Join Date: May 2011
Location: IOM
Posts: 967
Likes: 0
Received 0 Likes
on
0 Posts
Goldman yesterday predicated a boom quarter in Q3 this year for the global economy for countries that contain this pandemic well. Europe and the UK need to get their .... together.
That boom could take us well beyond the economic losses of the first two quarters of this year.
The airlines need short term fixes.
That boom could take us well beyond the economic losses of the first two quarters of this year.
The airlines need short term fixes.
Goldman yesterday predicated a boom quarter in Q3 this year for the global economy for countries that contain this pandemic well. Europe and the UK need to get their .... together.
That boom could take us well beyond the economic losses of the first two quarters of this year.
The airlines need short term fixes.
That boom could take us well beyond the economic losses of the first two quarters of this year.
The airlines need short term fixes.
Last edited by kcockayne; 1st Apr 2020 at 08:32. Reason: Additional comment.
Join Date: Sep 2012
Location: NW England
Posts: 148
Likes: 0
Received 0 Likes
on
0 Posts
Back to Sir Stelios, looks like he didn't get what he wanted and has called an EGM to remove Mr Bierwirth...
https://www.flightglobal.com/airline...137696.article
https://www.flightglobal.com/airline...137696.article
Join Date: Sep 2007
Location: Isle of Man
Posts: 403
Likes: 0
Received 0 Likes
on
0 Posts
Back to Sir Stelios, looks like he didn't get what he wanted and has called an EGM to remove Mr Bierwirth...
https://www.flightglobal.com/airline...137696.article
https://www.flightglobal.com/airline...137696.article
Obviously, no one knows what the future size and shape of any major airline may be, and any financial recovery is certain to involve cancellation or deferral of capital expenditure. There may well be a glut of decent second-hand aircraft from carriers that don't make it, which could be more attractive that new frames? Maybe 'new' easyJet will shrink naturally to a size that suits Stelios? But, who knows?
Stelios is obviously a very smart guy, but this action, at the present time, looks rather self-indulgent, unnecessary and very unhelpful.
Join Date: Jul 2014
Location: England
Posts: 108
Likes: 0
Received 0 Likes
on
0 Posts
Back to Sir Stelios, looks like he didn't get what he wanted and has called an EGM to remove Mr Bierwirth...
https://www.flightglobal.com/airline...137696.article
https://www.flightglobal.com/airline...137696.article
Join Date: Sep 2012
Location: NW England
Posts: 148
Likes: 0
Received 0 Likes
on
0 Posts
FWIW, my take on it is that he's using the current crisis as an opportune moment to attempt to force the cancellation of an order that he was opposed to from the beginning: https://www.reuters.com/article/us-a...95H04Q20130618
Join Date: Mar 2003
Location: Europe
Posts: 2,175
Likes: 0
Received 0 Likes
on
0 Posts
Stelios at it again with a follow-up letter. He is now demanding the head of a second "failed" director, Andrew Findlay, and berates his first victim, Andreas Bierwirth, as a failed former Lufthansa exec who has lost his employer a lot of money and got fired from Austrian Airlines.
I particularly like the spin that Airbus is a "Franco-German" company, conveniently overlooking the shareholder structure of Airbus SE and its significant presence in the UK and Spain. I am not really sure what the point is pissing off Airbus the way Stelios is doing, given there is only one supplier of a narrowbody aircraft left with the second clutching at straws to get its offering in the air again.
https://pbs.twimg.com/media/EU4CFMAW...jpg&name=large
https://pbs.twimg.com/media/EU4CFMFW...jpg&name=large
This is, by the way, the aswer to his first letter by easyjet:
http://otp.investis.com/clients/uk/e...newsid=1384394
I particularly like the spin that Airbus is a "Franco-German" company, conveniently overlooking the shareholder structure of Airbus SE and its significant presence in the UK and Spain. I am not really sure what the point is pissing off Airbus the way Stelios is doing, given there is only one supplier of a narrowbody aircraft left with the second clutching at straws to get its offering in the air again.
https://pbs.twimg.com/media/EU4CFMAW...jpg&name=large
https://pbs.twimg.com/media/EU4CFMFW...jpg&name=large
This is, by the way, the aswer to his first letter by easyjet:
http://otp.investis.com/clients/uk/e...newsid=1384394
Last edited by virginblue; 6th Apr 2020 at 08:51.
Join Date: Sep 2012
Location: NW England
Posts: 148
Likes: 0
Received 0 Likes
on
0 Posts
Stelios at it again with a follow-up letter. I particularly like the spin the Airbus is a "Franco-German" company, conveniently overlooking the shareholder structure of Airbus SE and its significant presence in the UK and Spain. I am not really sure what the point is pissing off Airbus the way Stelios is doing, given there is only one supplier of a narrowbidy aircraft left with the second clutching at straws to get its offering in the air again.
https://pbs.twimg.com/media/EU4CFMAW...jpg&name=large
https://pbs.twimg.com/media/EU4CFMFW...jpg&name=large
https://pbs.twimg.com/media/EU4CFMAW...jpg&name=large
https://pbs.twimg.com/media/EU4CFMFW...jpg&name=large
This is, by the way, the aswer to his first letter by easyjet:
easyJet Statement - Requisition of General Meeting
easyJet Statement - Requisition of General Meeting
Join Date: Mar 2003
Location: Europe
Posts: 2,175
Likes: 0
Received 0 Likes
on
0 Posts
easyJet really is in an interesting position with the Stelios clan owning only a third of the airline, but having easyJet by its neck by way of the licensing of the easy-brand.
Reading the Stelios notes, it has all the hallmarks of someone who has lost the plot.
For his position to be vindicated, he has to prove that Credit Suisse are in cahoots with management to create a set of trading forecasts which are misleading at best, fraudulent at worst. There is also a clear accusation that the Airbus contract with easyJet is somehow based on bribes and fraud. Should they be minded to, I'd say that both the directors and Credit Suisse could take counter-action against Stelios based on this. Could spice things up a bit.
For his position to be vindicated, he has to prove that Credit Suisse are in cahoots with management to create a set of trading forecasts which are misleading at best, fraudulent at worst. There is also a clear accusation that the Airbus contract with easyJet is somehow based on bribes and fraud. Should they be minded to, I'd say that both the directors and Credit Suisse could take counter-action against Stelios based on this. Could spice things up a bit.
Join Date: Feb 2018
Location: Wales
Posts: 1,316
Likes: 0
Received 0 Likes
on
0 Posts
https://www.independent.co.uk/travel...-a9448746.html
Join Date: Dec 2000
Location: Manchester, England
Age: 58
Posts: 897
Likes: 0
Received 0 Likes
on
0 Posts
August according to Stelios if they don't get rid of the Airbus order.
https://www.independent.co.uk/travel...-a9448746.html
https://www.independent.co.uk/travel...-a9448746.html
Join Date: Jan 2005
Location: Not so many places currently
Age: 60
Posts: 3,791
Likes: 0
Received 0 Likes
on
0 Posts
How many are actually due before August? AB are already running late due to lack of engines, a couple are sitting at the factory engineless and were before COVID-19 grounded the fleet. EZY, just like any airline currently will say leave it at XFW for now and thus do not have to pay for it. Can you really see AB saying no?