18-Jun-2013 4:01 PM

easyJet orders 35 A320s and 100 A320neos

easyJet announced (18-Jun-2013) an order for 35 A320 aircraft and 100 A320neos, with an option for an additional 100 A320neos. The 35 A320s will be delivered between 2015 and 2017 as per an existing agreement, with the 100 A320neos due for delivery between 2017 and 2022. Credit Suisse Securities (Europe) Limited is acting as sponsor and joint broker, with Nomura acting as joint broker. easyJet will hold a shareholder's meeting on 11-Jul-2013 to approve the agreement. The carrier expects the A320neo aircraft to deliver an 11% to 12% cost saving per seat compared to existing A319 aircraft. easyJet CEO Carolyn McCall said: "All manufacturers competed hard for the easyJet business. Both Airbus and Boeing offered us new generation aircraft that met our requirements and offered greatly improved fuel efficiency. Ultimately, Airbus offered us the best deal, and at a price with a greater discount to the list price than their landmark fleet purchase with easyJet in 2002. These arrangements combined with easyJet’s cost advantage, leading network and compelling customer proposition mean that easyJet is uniquely positioned to be a structural winner in European aviation." easyJet chairman John Barton added: "We have planned that the new fleet arrangements will be financed without recourse to shareholders and believe that the arrangements will enhance returns and dividends to shareholders." [more - original PR]

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