easyJet share price: Avation confirms Airbus A320-200 delivery to airline

Plane was previously leased to Air Berlin

easyJet share price: Avation confirms Airbus A320-200 delivery to airline

Avation has completed delivery of an Airbus A320-200 to easyJet (LON:EZJ), the leasing company has said. The move is related to the low-cost carrier’s acquisition of some assets of insolvent Air Berlin.

easyJet’s share price has jumped in London in today’s session, having rallied 1.19 percent to 1,444.00p as of 10:49 GMT. The group’s shares are outperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.06 percent higher at 7,608.29 points. The airline’s shares have added more than 40 percent to their value over the past year, as compared with an over seven-percent rise in the Footsie.

Leased aircraft

Commercial passenger aircraft leasing company Avation announced in a statement today that following the signature of a lease agreement, it had completed delivery of an Airbus A320-200 with serial number 4033 to easyJet. The transaction was previously announced on October 31.

The leasing company explained that the aircraft was formerly leased to Air Berlin, and that easyJet had now received European Commission approval to acquire part of the insolvent German’s carrier operations, which included the plane.

The move comes after the FTSE 100 low-cost airline announced earlier this week that it had acquired part of the collapsed carrier’s operations at Berlin Tegel Airport, with the deal resulting in the company operating 25 aircraft from the airport. The agreement includes the UK carrier leasing former Air Berlin aircraft, taking over other assets including slots, and offering employment to flying crew of the insolvent airline.

Analysts on easyJet

Panmure Gordon lifted its rating on easyJet to ‘hold’ this week, hiking its price target on the shares from 1,100p to 1,300p. According to MarketBeat, the London-listed low-cost carrier currently has a consensus ‘hold’ rating and an average price target of 1,372.84p. 

As of 11:01 GMT, Friday, 22 December, easyJet plc share price is 1,446.00p.

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