Updates

Easyjet

October 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares moved higher after Easyjet announced an encouraging Q3 update for the period ending 30 June. Revenues were £7m, headline costs were £332m and cash burn was £774m in a period where travel was grounded. The latter was lower than previous guidance of £1bn cash burn.More encouraging was that its planes restarted flying on 15 June and it expects capacity to ramp up to 40% for Q4, peaking in August, compared to the 30% highlighted at its H1 results. Based on this schedule it now expects to report a smaller loss in Q4 than in Q3.Net debt was £835m as at 30 June and total liquidity is healthy at over £2.2bn.With a strong balance sheet, Easyjet is well-placed to gain market shar ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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