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EasyJet Share Price Surges 10% as Holiday Demand Rises

Nigel F

Shares of EasyJet PLC (LON: EZJ) soared 10% after the low-cost carrier said the demand has been better than expected in July. 

The airline said it had only 117,000 passengers in the three months ending June 30, a decrease of 99.6% compared to the same period in 2019. As a result, revenue went from £104 million to £7 million in the quarter.

EasyJet moved to a £324.5 million loss from a £174.2 million profit the prior year. Despite the horrific numbers, the low-cost carrier noted an uptick in demand for holiday travel. 

“I am really encouraged that we have seen higher than expected levels of demand with load factor of 84% in July with destinations like Faro and Nice remaining popular with customers,”  Chief executive Johan Lundgren said in a statement. 

“Our bookings for the remainder of the summer are performing better than expected and as a result we have decided to expand our schedule over the fourth quarter to fly c.40% of capacity”. 

Easyjet share price surges on better-than-expected demand August 2020

EasyJet share price surged over 10% to trade at 560p. The buyers will now eye a move to 640p where the next resistance line sits. 

Nigel F
Nigel F
Team Member

Nigels tiefes Verständnis der Finanzmärkte basiert auf über 10 Jahren Erfahrung. Nigel wurde bisher zweimal von der FCA (Financial Conduct Authority) autorisiert und hat in der letzten Zeit eine Finanz-Brokerage Firma besessen und verkauft. Er liefert hochaktuelle Analysen und Einsichten in die Finanzmärkte und in die allgemeine Wirtschafts- und Währungspolitik des Vereinigten Königreichs, der USA, Europas und Asiens.