CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

MNI: US MAY PERSONAL INCOME +0.5%; NOM PCE +0.2%

MNI: CANADA APR GROSS DOMESTIC PRODUCT +0.3% MOM

Inflation Slowed in June, Shaking Off May Hotel Price Jump

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EasyJet Results Solid; Aircraft Purchases Could Presage Credit Supply

TRANSPORTATION

EasyJet (EZJ LN) reported 1Q24 (3M to Dec-23) which looked very marginally better than expectations.


  • Revenues were GBP1.80bn (+22% y/y and better than consensus of 1.73bn) and pre-tax loss was GBP126m (5% better than prior year). Passengers were up 14% y/y and revenue/seat up 3% even with load factor down a point.
  • The Summer-24 outlook is “positive” even though mgmt sees GBP40m impact from Mid-East conflict. Seats booked and yield both look ahead of last Summer.
  • Net debt has halved (to GBP0.5bn from GBP1.1bn) but the firm has announced the purchase of 157 A320neo aircraft (powered by CFM) with delivery of 16 in this year. EZJ does have some limited traded debt but this fleet expansion, along with the drop in net debt, could presage some further supply.
Credit BulletsBulletHomepagemarkets-real-timeCredit
Credit BulletsBulletHomepagemarkets-real-timeCredit

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.