easyJet (LON:EZJ) has partnered with Virgin for connections through London Gatwick Airport to destinations on the other side of the Atlantic. The move is part of the FTSE 100 group’s long-haul connections business Worldwide.
easyJet’s share price has slipped into the red in today’s session, having given up 0.12 percent to 1,220.50p as of 14:40 BST, largely in line with losses in the broader UK market, with the benchmark FTSE 100 index currently standing 0.20 percent lower at 7,480.31 points. The group’s shares have lost about five percent of their value over the past year, as compared with about a 0.5-percent gain in the Footsie.
easyJet partners with Virgin
easyJet announced in a statement today that easyJet had Virgin Atlantic as a new airline partner to its Worldwide connections service, meaning that customers can now connect through London Gatwick Airport between easyJet and Virgin Atlantic flights. The FTSE 100 group explained that customers will be able to connect from the likes of Barcelona through to Orlando and Edinburgh to Las Vegas, with other Virgin destinations available including Las Vegas, Antigua and St Lucia.
“We are really pleased to welcome Virgin Atlantic to ‘Worldwide by easyJet’. Given we both serve many popular destinations from London Gatwick, we are confident their addition to Worldwide will be very popular with our customers,” easyJet’s chief executive Johan Lundgren commented, adding that the low-cost carrier had been “delighted with the appetite of partner airports and airlines to expand Worldwide”.
UBS trims target on airline
In analyst news, UBS lowered its price target on easyJet from 1,900p to 1,300p. WebFG News reported that the broker is cautious on the yield outlook for 2019, given guidance from the management team that yields in the first half could be down mid-single digit levels, together with geopolitical risk and data suggesting prices are moderating.