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NEW AIRCRAFT
Do we have any ideas of whether the deferred orders are from EasyJet UK or EasyJet Europe fleets - or both? Again, would it be both A320s and A321s? How many new aircraft were expected between now and the end of 2020? According to Jethros list EJU should have received its next A321 last week.
Do we have any ideas of whether the deferred orders are from EasyJet UK or EasyJet Europe fleets - or both? Again, would it be both A320s and A321s? How many new aircraft were expected between now and the end of 2020? According to Jethros list EJU should have received its next A321 last week.
NEW AIRCRAFT
Do we have any ideas of whether the deferred orders are from EasyJet UK or EasyJet Europe fleets - or both? Again, would it be both A320s and A321s? How many new aircraft were expected between now and the end of 2020? According to Jethros list EJU should have received its next A321 last week.
Do we have any ideas of whether the deferred orders are from EasyJet UK or EasyJet Europe fleets - or both? Again, would it be both A320s and A321s? How many new aircraft were expected between now and the end of 2020? According to Jethros list EJU should have received its next A321 last week.
There is a trading update from the company on April 16th. It may have more information on future fleet allocation.
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EasyJet founder Stelios Haji-Ioannou has sent a complaint to the UK's financial regulator about the airline's Airbus order, ratcheting up tensions between the company’s largest shareholder and its board.
The UK-listed airline and its founder have been battling for weeks over an Airbus order for 107 new aircraft, which he estimates will cost the airline £4.5bn.
Sir Stelios argues the order should be cancelled in order to preserve cash in the face of the coronavirus pandemic that has left the aviation industry grappling with its biggest crisis in decades.
Last week, easyJet attempted to ease tensions by saying it would defer the purchase of 24 aircraft over three years.
But in a letter to the Financial Conduct Authority, lawyers from London firm Signature Litigation acting on behalf of Sir Stelios said the airline breached the UK's Market Abuse Regulation and Listing Rules since it did not obtain shareholder approval before deferring the Airbus order.
Sir Stelios also said that easyJet’s statement about the deferral did not outline how many aircraft deliveries will go ahead in the 2020/21 financial year, leaving the financial effect of the deferral “entirely unexplained”.
“Given the global Covid-19 pandemic, the grounding of the company’s entire fleet and loss of all its revenue, this is critical information, without which the actual deferral decision is impossible to understand,” the letter said.
EasyJet said it was “well aware of its obligations and constantly reviews its obligations” under the UK Market Abuse Regulation.
The airline and Sir Stelios, whose family owns 34 per cent of the company, have been embroiled in a battle over the multibillion pound order for weeks, with the outspoken founder threatening to oust board directors unless the order is cancelled.
Sir Stelios has asked the regulator to make easyJet reveal the value and cash flow impact of the deferrals as well as to confirm whether shareholder approval is required.
In a separate statement, he said that if the FCA does not force a shareholder vote, the businessman would himself go “to a High Court judge to ask for an injunction requiring the regulators to do their job properly.”
EasyJet became one of the first big UK companies to tap the government for help, taking £600m from the emergency loan scheme to shore up its cash pile.
Sir Stelios’s last notable fight with the carrier followed the financial crisis in 2008 and played a part in the subsequent departure of the airline’s chairman, chief executive and finance director.
BOOM.
The UK-listed airline and its founder have been battling for weeks over an Airbus order for 107 new aircraft, which he estimates will cost the airline £4.5bn.
Sir Stelios argues the order should be cancelled in order to preserve cash in the face of the coronavirus pandemic that has left the aviation industry grappling with its biggest crisis in decades.
Last week, easyJet attempted to ease tensions by saying it would defer the purchase of 24 aircraft over three years.
But in a letter to the Financial Conduct Authority, lawyers from London firm Signature Litigation acting on behalf of Sir Stelios said the airline breached the UK's Market Abuse Regulation and Listing Rules since it did not obtain shareholder approval before deferring the Airbus order.
Sir Stelios also said that easyJet’s statement about the deferral did not outline how many aircraft deliveries will go ahead in the 2020/21 financial year, leaving the financial effect of the deferral “entirely unexplained”.
“Given the global Covid-19 pandemic, the grounding of the company’s entire fleet and loss of all its revenue, this is critical information, without which the actual deferral decision is impossible to understand,” the letter said.
EasyJet said it was “well aware of its obligations and constantly reviews its obligations” under the UK Market Abuse Regulation.
The airline and Sir Stelios, whose family owns 34 per cent of the company, have been embroiled in a battle over the multibillion pound order for weeks, with the outspoken founder threatening to oust board directors unless the order is cancelled.
Sir Stelios has asked the regulator to make easyJet reveal the value and cash flow impact of the deferrals as well as to confirm whether shareholder approval is required.
In a separate statement, he said that if the FCA does not force a shareholder vote, the businessman would himself go “to a High Court judge to ask for an injunction requiring the regulators to do their job properly.”
EasyJet became one of the first big UK companies to tap the government for help, taking £600m from the emergency loan scheme to shore up its cash pile.
Sir Stelios’s last notable fight with the carrier followed the financial crisis in 2008 and played a part in the subsequent departure of the airline’s chairman, chief executive and finance director.
BOOM.
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Coronavirus: EasyJet losses could hit £380m after jets grounded https://www.bbc.co.uk/news/business-52306868
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ATNotts Maybe higher average fares are something the travelling public will need to get used to post CVD19?
Airlines are unlikely to want to see a return to ultra low fares as they could not make money at those levels.
If we see less airlines with less seats going forwards then the basic rules of supply and demand suggest higher fares will follow.
Airlines are unlikely to want to see a return to ultra low fares as they could not make money at those levels.
If we see less airlines with less seats going forwards then the basic rules of supply and demand suggest higher fares will follow.
Surely these easyJet suggestions are a joke? call that social spacing - really?
EasyJet to leave middle plane seats empty
EasyJet chief executive Johan Lundgren expects the seating measure will encourage more people to fly. "That is something that we will do because I think that is something that the customers would like to see," he said. "Then we will work out with the authorities and listen to the customers' views and points on what they believe is the right thing to do, particularly in the start-up period." Commenting on how social distancing on its planes would work, Mr Lundgren said passengers would sit next to the window or the aisle in a three-seat configuration. He said the airline would be able to implement the measure because he did not expect EasyJet's aircraft to be full immediately after the lockdown is lifted.
EasyJet to leave middle plane seats empty
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You never know, this could be a winner.
Go by Ryanair at special post corona fare of 99p/99c but you will be sitting right next to who knows what or go by Easyjet where you have a little bit of distancing but pay normal or slightly higher fares.
The public will determine what is best!
Go by Ryanair at special post corona fare of 99p/99c but you will be sitting right next to who knows what or go by Easyjet where you have a little bit of distancing but pay normal or slightly higher fares.
The public will determine what is best!
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There's nothing materially changed so far in either EasyJet or Ryanair's stance from how each of their business strategies have been for years.
EasyJet deferring fleet growth, which of course a lot of pressure on them to do so, and prioiritsing yield per head and market share positions above all else.
Ryanair's 'load factor active yield passive' stragtegy will mean they'll cut fares to whatever it takes to best fill the aircraft as much as possible. They know full well they can withstand the downward pressure on fares more so than anyone else.
Not to say which strategy is better in the long run, but I'm sure the airports at least will favour volumes in the short run as are essential for thier commercial spend, never mind the employees and contractors right across the business.
Anybody personally still concerned about the covid-19 spread once restrictions are eased are not in my view the people that will be flying away on a jolly, regardless of price or seating policy etc.
The reality of course will unfold purley on how and when restrictions are lifted and how the market pans out. One thing that is for sure and will be a lasting effect is the aviation world will look much different on the other side of all this.
EasyJet deferring fleet growth, which of course a lot of pressure on them to do so, and prioiritsing yield per head and market share positions above all else.
Ryanair's 'load factor active yield passive' stragtegy will mean they'll cut fares to whatever it takes to best fill the aircraft as much as possible. They know full well they can withstand the downward pressure on fares more so than anyone else.
Not to say which strategy is better in the long run, but I'm sure the airports at least will favour volumes in the short run as are essential for thier commercial spend, never mind the employees and contractors right across the business.
Anybody personally still concerned about the covid-19 spread once restrictions are eased are not in my view the people that will be flying away on a jolly, regardless of price or seating policy etc.
The reality of course will unfold purley on how and when restrictions are lifted and how the market pans out. One thing that is for sure and will be a lasting effect is the aviation world will look much different on the other side of all this.
Last edited by FRatSTN; 16th Apr 2020 at 13:45.
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Of course if Ryanair do 99p fares the smart thing would be to buy your own social distancing through purchasing an additional seat and paying £8 or whatever to reserve it
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One large Business class or Club class perhaps? However, how does that prevent you social distancing when boarding, disembarking, aircraft toilet use, security clearance, interaction with the crew plus numerous other situations. The risks are endless and 99 pence fares may not work very well either as I guess that travel insurance will be at an all time high for the foreseeable future. My Dad always wanted me to be a lawyer, plenty of future earnings for them. Besides those fortunate enough to be in full time employment and with funds to spend may have other priorities than Loco flying!
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Get on a bus to a remote stand and social distancing goes out of the window with the passenger losing all control of the situation if they are the first to board. Also who wants to sit in an aisle seat with someone huffing and puffing while putting an oversized bag into an overhead locker.
Lets face a few facts. Travelling in an aircraft will be a dangerous occupation as there is more to flying than just the seat the passenger will sit in. Who is to say what will happen in foreign lands even if the UK keeps to some sort of standard.
Lets face a few facts. Travelling in an aircraft will be a dangerous occupation as there is more to flying than just the seat the passenger will sit in. Who is to say what will happen in foreign lands even if the UK keeps to some sort of standard.
Last edited by LTNman; 16th Apr 2020 at 17:03.
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Stelios Statement on the easyJet/Airbus scandal 16April 2019 at 12.12h BST
More always on www.easy.com
Commenting on the easyJet 2020 H1 trading update released on the 16April 2020 , the airline’s founder and largest shareholder Sir Stelios Haji-Ioannou said:
I have previously referred those in charge of easyJet as scoundrels. This remains my view. They made a
deliberate mistake in affirming the contract between easyJet and Airbus worth at least £4.5 billion whilst
easyJet has a grounded fleet of 337 Airbus aircraft. Instead of serving a notice of termination to Airbus to
cancel the contract they have deliberately chosen to send at least £2.5bn of our cash to Airbus in the years
2020-22. At least £1.5 billion of our cash (of the £2.5bn) is shown as going to Airbus in the next 9 months whilst the fleet could remain grounded.
In 9 months from now, or say December 2020, even the scoundrels admit that the company will run out of
money. What the scoundrels are not telling us at all is how much money the company will burn each week after the resumption of flying which will be well in excess of the £40m per week that they state that they burn whilst the fleet is grounded.
Flying half empty planes will be heavily loss making. That £40m per week of cash burn is before the payments to Airbus. The scoundrels at easyJet are now also planning to keep the number of aircraft in the fleet around the same level as now at 337 Airbus aircraft over the next 18 months. So they will
clearly burn a lot more of our cash in 2021. There is no way the demand for passenger flying in 2021 will be
the same as 2019.
UK taxpayers should be really worried now that they will not see any of their money back in March 2021.
Holders of easyJet ticket vouchers for future flying should also be worried that they may never get to use
them next year and will not see their money back because the scoundrels are sending £1.5bn to Airbus.
As a result of this deliberate mistake to affirm the Airbus contract, I will call for the removal as directors of two more of the scoundrels in addition to the other two from earlier requests.
So now I will call for the removal as directors of:
The CEO Johan Lundgren for sending £1.5 bn of our money to Airbus whilst running an “aircraft parking lot”
for 9 months.The Chairman John Barton for refusing to instigate an independent inquiry to investigate if the Airbus bribery techniques exposed by the UK court judgement on the 31st of January 2020 have been used in securing the easyJet order by Airbus.
If I succeed in removing the 4 directors at the forthcoming meetings, I expect the rest of the board (7 of them left) to promote the COO to acting CEO to run the “aircraft parking lot” and to serve notice of
termination to Airbus. Any attempt to operate a fleet of more than 250 aircraft (down from 337 now) is
bound to just burn a shed load of cash in 2021. I hope the remaining scoundrels will follow that fleet plan
and cancel the order for new useless Airbus aircraft that will lose a lot of money.
End
More always on www.easy.com
Commenting on the easyJet 2020 H1 trading update released on the 16April 2020 , the airline’s founder and largest shareholder Sir Stelios Haji-Ioannou said:
I have previously referred those in charge of easyJet as scoundrels. This remains my view. They made a
deliberate mistake in affirming the contract between easyJet and Airbus worth at least £4.5 billion whilst
easyJet has a grounded fleet of 337 Airbus aircraft. Instead of serving a notice of termination to Airbus to
cancel the contract they have deliberately chosen to send at least £2.5bn of our cash to Airbus in the years
2020-22. At least £1.5 billion of our cash (of the £2.5bn) is shown as going to Airbus in the next 9 months whilst the fleet could remain grounded.
In 9 months from now, or say December 2020, even the scoundrels admit that the company will run out of
money. What the scoundrels are not telling us at all is how much money the company will burn each week after the resumption of flying which will be well in excess of the £40m per week that they state that they burn whilst the fleet is grounded.
Flying half empty planes will be heavily loss making. That £40m per week of cash burn is before the payments to Airbus. The scoundrels at easyJet are now also planning to keep the number of aircraft in the fleet around the same level as now at 337 Airbus aircraft over the next 18 months. So they will
clearly burn a lot more of our cash in 2021. There is no way the demand for passenger flying in 2021 will be
the same as 2019.
UK taxpayers should be really worried now that they will not see any of their money back in March 2021.
Holders of easyJet ticket vouchers for future flying should also be worried that they may never get to use
them next year and will not see their money back because the scoundrels are sending £1.5bn to Airbus.
As a result of this deliberate mistake to affirm the Airbus contract, I will call for the removal as directors of two more of the scoundrels in addition to the other two from earlier requests.
So now I will call for the removal as directors of:
The CEO Johan Lundgren for sending £1.5 bn of our money to Airbus whilst running an “aircraft parking lot”
for 9 months.The Chairman John Barton for refusing to instigate an independent inquiry to investigate if the Airbus bribery techniques exposed by the UK court judgement on the 31st of January 2020 have been used in securing the easyJet order by Airbus.
If I succeed in removing the 4 directors at the forthcoming meetings, I expect the rest of the board (7 of them left) to promote the COO to acting CEO to run the “aircraft parking lot” and to serve notice of
termination to Airbus. Any attempt to operate a fleet of more than 250 aircraft (down from 337 now) is
bound to just burn a shed load of cash in 2021. I hope the remaining scoundrels will follow that fleet plan
and cancel the order for new useless Airbus aircraft that will lose a lot of money.
End