EasyJet share price underpinned by traffic increase

on May 7, 2014
Updated: Oct 21, 2019
Listen

iNVEZZ.com, Wednesday, May 7: Shares in easyJet (LON:EZJ) have been trading higher today after the British budget airline posted a rise in its latest traffic numbers and announced plans to apply cutting-edge technology to cut costs and run its fleet more efficiently.

EasyJet revealed in a statement today that it had carried a tenth more passengers last month than in April 2013 as late Easter getaways boosted bookings.
Monthly traffic numbers rose 10.2 percent to 5.8 million, while the airline’s load factor — a measure of how full its aircraft were — increased 3.1 percentage points to 89.8 percent. In the year to April, passenger numbers climbed 4.2 percent to 62.4 million, with a load factor up 0.6 percentage points to 89.7 percent.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

**Drones to assist aircraft checks**
In a separate statement released today, easyJet announced that it would be the first airline to use drones to help maintain its fleet. The airline will start using the flying maintenance robots next year after trials in the next few months.


EasyJet also plans to replace printed charts and log books with electronic ones to cut onboard weight and save on fuel costs.
“We are applying a range of new technologies to the aviation sector for the first time to help us run our fleet of aircraft more effectively, efficiently and safely,” CEO Carolyn McCall remarked.
**EasyJet share price takes off**

Today’s news has buoyed EasyJet’s share price and as of 13:07 BST, the stock was changing hands at 1,708p – 2.46 percent up on the day.
Of the 24 analysts projecting 12 month price targets for the airline for The Financial Times, the median target is 1,820p, with a high estimate of 2,105p and a low estimate of 1,400p. The median estimate represents a 6.56 percent increase from the last price of 1,708p.
**As of 13:13 BST, buy EasyJet shares at 1,709.00p.**
**As of 13:13 BST, sell EasyJet shares at 1,708.00p.**

Ad

Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals™.

0/10
Learn more
Stock Market Transport & tourism