Easyjet looking to inject some jet fuel into its shares – which are flying 40% lower than this time last year

By Daily Mail City & Finance Reporter

Published: 21:54 GMT, 26 November 2021 | Updated: 21:54 GMT, 26 November 2021


Easyjet will be looking to inject some jet fuel into its shares on Tuesday – which are flying 40 per cent lower than this time last year. 

The low-cost airline battered again last week as the latest Covid variant raised fears of another lockdown. 

Countries around the world quickly re-imposed travel restrictions to stop the spread of the mutant first identified in Botswana. 

Easyjet shares crashed yesterday as the market opened to the news but recouped some of their losses to close down 11.5 per cent, or 64.6p, at 499.8p. 

It had sparked optimism last month of an industry-wide recovery when it said it would fly at 70 per cent of pre-Covid capacity until the end of the year. 

But it warned this month of a potential fare cut to boost demand. It is expecting to report a loss between £1.135billion and £1.175billion in the 12 months to the end of September when it reports on Tuesday, the second year in a row when losses will top £1billion. 

Shares have more than halved from a 2021 high and are hanging near the low hit in autumn 2020 when lockdowns were coming into force. 

The pandemic is a key factor and lockdowns in Austria and the Netherlands, tighter measures in Belgium and talk of lockdowns in Germany are hitting shares in travel firms, say analysts at AJ Bell. 

The timing of a Covid surge on the continent and the emergence of the new variant means Easyjet is taking a hit just as bookings were picking up thanks to the vaccination programmes and eased restrictions. 

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