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easyJet is banking on airline failures as bleak Winter looms

23-Sep-2008

easyJet is one of a handful of well positioned European carriers that is set to increase its market share this Winter as its rivals reduce capacity or exit the market. The massive spike in the price of oil on 22-Sep-08 back above USD120 per barrel could accelerate the process of change in Europe. easyJet CEO, Andy Harrison, stated recently, "I'm pretty certain easyJet will win market share from airlines that cut back or disappear, while as economic pressures (on passengers) increase, we should win market share from the legacy airlines". [1347 words]

Unlock the following content in this report:

Subheadings:

  • Sees reduced Winter demand and lower unit revenues
  • 48% hedged for FY08/09
  • Maintains guidance for FY08; strong cash reserves heading into difficult Winter 08/09
  • Outlook: ‘Laws of the jungle' prediction playing out

Graphs and data:

  • Total capacity share (seats) for London airports: Week commencing 22-Sep-08
  • easyJet fleet orders
  • Select European LCC fuel hedging positions
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