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EasyJet Shares Lose Altitude On CEO Departure, HY Update Impresses

May 16, 2024, 5:21 AM EDT1 sourcesAI-analyzed

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What happened, with direct paths to the underlying reporting

- Johan Lundgren to leave easyJet, Kenton Jarvis to take over as CEO. - easyJet shares fell over 6% on the news, becoming 2nd-largest faller. - Sales surged 22% to £3.3 billion, passenger revenues improved 17%. - Ancillary revenues up 30%, easyJet holidays division saw 210% growth. - Company on track to deliver annual pre-tax profit exceeding £1 billion. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Corporate Developments

  • Johan Lundgren to leave easyJet, Kenton Jarvis to take over as CEO.
  • easyJet shares fell over 6% on the news, becoming 2nd-largest faller.
  • Sales surged 22% to £3.3 billion, passenger revenues improved 17%.
  • Ancillary revenues up 30%, easyJet holidays division saw 210% growth.
  • Company on track to deliver annual pre-tax profit exceeding £1 billion.

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