easyJet Stock News

easyJet PLC has echoed calls from Ryanair Holdings PLC (LSE:RYA) for the chief executive of the UK's air traffic controller to resign following repeated disruptions in recent years. Chief executive John Lundgren wrote to National Air Traffic Services (Nats) this week to call for Martin Rolfe's resignation after staff shortages hit Gatwick flights most recently.

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easyJet PLC gained altitude on Tuesday after low-cost peer Ryanair Holdings PLC reassured fares would not fall as much as expected this summer. Ryanair boss Michael O'Leary said in an interview earlier on Tuesday that fares would likely fall closer to 5% this summer, against anticipations last month of a 10% drop.

An easyJet PLC (LSE:EZJ) plane flying to Gatwick from Corfu had to be diverted to Rome to get treatment for two cabin crew injured when the flight hit ‘extreme turbulence”. In scenes reminiscent of a Singapore Airlines flight in May when one passenger was killed, passengers on the easyJet flight said the crew were hurled against the side of the aircraft when it suddenly dropped.

EasyJet said it cancelled more than 200 flights to and from Portugal from Thursday as cabin crew based in the country began a three-day strike over working conditions including rotas and overtime.

Third-quarter results from easyJet PLC (easyJet PLC (LSE:EZJ)) may reassure investors after the warning from rival Ryanair earlier in the week, with the orange-branded budget airline's profits rising and summer bookings up year on year.  Johan Lundgren said, "we remain on track to deliver another record-breaking summer, taking us a step closer to our medium term targets".

Britain's easyJet reported a 16% rise in pretax profit in its third-quarter on Wednesday, helped by strong summer travel demand and more customers looking for budget holidays.

Analysts at UBS have a bullish view on upcoming earnings reports from big-cap budget carriers easyJet plc and Ryanair Holdings PLC (LSE:RYA). UBS reckons easyJet's third-quarter revenues will outperform City forecasts, with the bank predicting £2.87 billion, up from £2.36 billion in the previous year's third quarter and exceeding the consensus estimate of £2.66 billion.