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EASYJET PLC

EasyJet PLC is a European low-cost airline, headquartered in Luton, United Kingdom. Established in 1995, easyJet operates on a point-to-point model, providing affordable and efficient travel options across Europe. The airline serves more than 150 airports in over 30 countries, with a network spanning key cities and popular holiday destinations. EasyJet is known for its extensive route network, with primary bases at London Gatwick, Milan Malpensa, and Geneva, among others. easyJet has two operating segments, being its Airline business, which operates easyJet's route network, and the Holidays business, which sells package holidays.

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Ryanair Holdings Plc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/RYAAY#OTC">RYAAY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RYAOF#OTC">RYAOF</a>) is facing the prospect of receiving fewer&nbsp;Boeing Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) aircraft by the end of June than initially anticipated, according to CEO&nbsp;Michael O&#8217;Leary.&nbsp;
Ryanair&nbsp;runs one of the biggest fleets of Boeing aircraft, with around 230 currently in service, and has 300 of the company&#8217;s 737&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/01/36679192/boeings-rough-ride-airline-industry-demands-tighter-safety-measures-as-stocks-nosedive" rel="noreferrer noopener">Max 10 models on order.</a>
In Early January,&nbsp;Alaskan Airlines&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>)&nbsp;737 Max 9&nbsp;jet was forced to make an emergency landing after&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/01/36523143/im-going-to-die-passengers-experience-15-minute-nightmare-during-alaska-airs-harrowing-emergency" rel="noreferrer noopener">a door panel blew out in mid-flight.</a>
Ryanair is set to be the first in Europe to experience the repercussions of Boeing&#8217;s crisis and is expected to have 57 Boeing MAX 8200 planes by&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/01/36868284/boeings-suspends-outlook-after-q4-results-says-plug-issue-completely-under-control" rel="noreferrer noopener">the end of April</a>.&nbsp;
However, a recent communication from Boeing indicated a reduced delivery of around 50 aircraft by the end of June, Reuters noted, prompting uncertainty and potential disruptions to Ryanair&#8217;s summer schedule.
Boeing acknowledged the situation, expressing regret for the impact on Ryanair and attributing delays to ensuring regulatory standards.
In response to the potential shortage, O&#8217;Leary revealed that Ryanair might need to make minor schedule cuts, affecting capacity during the peak summer travel season.
The delivery delays could result in Ryanair carrying only 200 million passengers for the financial year starting in April, down from the previous forecast of 205 million.&nbsp;
O&#8217;Leary highlighted the challenges, stating that further disruptions could affect the airline&#8217;s competitiveness against rivals like&nbsp;easyJet Plc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/EJTTF#OTC">EJTTF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESYJY#OTC">ESYJY</a>)
In light of the delays, Ryanair is reportedly discussing compensation with Boeing.&nbsp;
As per the Financial Times&nbsp;<a target="_blank" href="https://www.ft.com/content/a00a1875-a3ee-4c38-aee8-8267cc1459fe" rel="noreferrer noopener">report</a>, O&#8217;Leary expressed frustration with the situation, labeling it a &#8220;shitshow&#8221; in Seattle, and emphasized the focus on obtaining the ordered airplanes.&nbsp;
He also hinted at passing some of the cost to customers, with potential price increases of 5%-10% this summer and average fares rising by 10-15 euros over the next five years.
While Ryanair grapples with Boeing&#8217;s production issues, other airlines like&nbsp;Lufthansa&nbsp;and&nbsp;TUI&nbsp;are taking mitigating steps to address potential delays.&nbsp;
Analysts anticipate rising ticket prices across the sector due to general supply chain delays.&nbsp;
O&#8217;Leary remained open to additional Boeing orders if other carriers dropped their orders, signaling a potential opportunity for Ryanair&#8217;s growth in 2027 or 2028.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Ryanair Faces Summer Turbulence as Boeing Delivery Delays Threaten Schedule

Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsy#OTC">EADSY</a>) said it has&nbsp;<a class="editor-rtfLink" href="https://www.airbus.com/en/newsroom/press-releases/2023-12-airbus-delivers-first-aircraft-from-new-toulouse-final-assembly" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">delivered&nbsp;</a>its first Airbus A321neo assembled at its newest A320&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/12/36261710/airbus-lands-mega-deal-turkish-airlines-orders-220-latest-generation-planes" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Family Final Assembly Line in Toulouse.</a>&nbsp;
The A321neo, which will be operated by Pegasus Airlines, a low-cost carrier (LCC) in T&uuml;rkiye, is the first delivery from Airbus&#39; latest state-of-the-art production facility. Located in the former A380 &quot;Jean-Luc Lagard&egrave;re&quot; building, the assembly line reflects Airbus&#39; commitment to modernise and meet the growing global demand for the A321neo, which now accounts for nearly 65% of Airbus&#39; A320 Family order backlog.
Pegasus Airlines&#39; current Airbus fleet stands at 93 aircraft, including 6 A320ceo, 46 A320neo and 41 A321neo. The airline also has 68 A321neos on order.&nbsp;
The delivery of the aircraft to Pegasus Airlines marks the start of the ramp-up of the new Toulouse FAL, which, together with the other A320 Family FALs in Hamburg (Germany), Mobile (USA), and Tianjin (China), will contribute to Airbus&#39; objective of producing 75 A320 Family aircraft per month in 2026.
Earlier this month,&nbsp;easyJet Plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/esyjy#OTC">ESYJY</a>) confirmed an order for 157 additional A320neo Family aircraft from Airbus,&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/12/36301657/easyjet-confirms-mega-order-for-airbus-aircraft-strengthening-its-fleet-with-a320neo-and-a321neo" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">along with purchase rights for 100 more aircraft.</a>
easyJet said 56 A320neo and 101 A321neo aircraft will be delivered between FY29 and FY34, while 35 A320neo already on order will be converted into larger A321neo aircraft.
Read Next:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/12/36408873/why-1847-holdings-shares-are-falling-thursday" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Why 1847 Holdings Shares Are Falling Thursday</a>
Price Action:&nbsp;EADSY shares closed higher by 0.49% to $38.69 on Wednesday.
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Airbus Breaks Ground With Pegasus Airlines: Unveils First A321neo From Cutting-Edge Toulouse Assembly Line

easyJet Plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/esyjy#OTC">ESYJY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ejttf#OTC">EJTTF</a>) has confirmed an <a href="http://mediacentre.easyjet.com/story/16519/easyjet-confirms-order-for-157-airbus-aircraft">order </a>for 157 additional A320neo Family aircraft from&nbsp;Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsy#OTC">EADSY</a>), along&nbsp;with purchase rights for 100 more aircraft.
easyJet said 56 A320neo and 101 A321neo aircraft will be delivered between FY29 and FY34, while 35 A320neo already on order will be converted into larger A321neo aircraft.
The large order and replacement is expected to allow easyJet to grow its capacity through a combination of incremental aircraft, speedy upgauging to larger aircraft, and replace approximately half of the A320ceo aircraft.
Read Next:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/12/36200516/ireland-based-lessor-avolons-sky-high-move-places-140-aircraft-order-with-airbus-and-boeing" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Ireland-Based Lessor Avolon&#39;s Sky-High Move: Places 140 Aircraft Order With Airbus And Boeing</a>
The initiative will help easyJet in steering towards disciplined growth and bringing cost and sustainability improvements to the business.
The airline already has 69 A320neo Family aircraft in its fleet and an existing order book with Airbus to FY29 for a further 158 A320neo Family aircraft still to be delivered.
With limited delivery slots in the market for narrow body aircraft until at least 2029, the latest confirmation ensures a supply of future delivery slots between FY29 and FY34 to retain its current scale.
The newer aircraft will deliver a 13% to 30% unit fuel burn efficiency improvement and are relatively quieter, with half the noise footprint of the older aircraft they are replacing.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/12/36261710/airbus-lands-mega-deal-turkish-airlines-orders-220-latest-generation-planes" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Airbus Lands Mega Deal: Turkish Airlines Orders 220 Latest Generation Planes</a>
Price Action: ESYJY shares closed higher by 0.80% at $6.27 on Monday.
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easyJet Confirms Mega Order For Airbus Aircraft, Strengthening Its Fleet With A320neo And A321neo Models

RTX Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>) President and COO, Christopher T. Calio, will assume the role of CEO, succeeding Gregory J. Hayes, during the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/12/n36248675/rtx-names-christopher-t-calio-to-succeed-gregory-j-hayes-as-ceo" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">2024 Annual Shareowners Meeting on May 2</a>.
Hayes will continue to serve as executive chairman of RTX. Calio was also appointed to the company&#39;s board of directors, effective December 14, 2023.
In the current role, Calio oversees the company&#39;s three business units, as well as its functions for technology, engineering, enterprise services, digital, operations, quality, supply chain, environment, health and safety.
Prior to his current role, Calio was president of Pratt &amp; Whitney, where he led the business that designs, manufactures and services aircraft engines and auxiliary power units.&nbsp;
RTX recently faced issues with the Pratt &amp; Whitney Geared Turbo Fan (GTF) engine fleet arising from the previously disclosed rare condition in&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/09/34498180/why-pratt-whitneys-gtf-engine-issues-could-impact-rtx-cash-flow-through-2025-analys" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">powder metal used to manufacture certain engine parts.</a>
Earlier this month, RTX&#39;s Collins Aerospace disclosed a collaboration with&nbsp;EasyJet Plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/esyjy#OTC">ESYJY</a>) to activate GlobalConnectSM connected aircraft services on over 330&nbsp;Airbus SE&nbsp;(OTC:&nbsp;EADSY)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/12/36064220/rtxs-collins-aerospace-joins-hand-with-easyjet-to-boost-aircraft-efficiency" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">aircraft in its fleet.</a>
In October, the company inked a joint venture pact with Rafael Advanced Defense Systems to build a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/topic/defense-stocks" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">manufacturing facility in East Camden, Arkansas.</a>
The companies will&nbsp;<a class="editor-rtfLink" href="https://www.rtx.com/news/news-center/2023/10/26/rtx-rafael-to-build-missile-production-facility-in-camden-arkansas" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">produce&nbsp;</a>the Tamir missile for the Iron Dome Weapon System and its U.S. variant, SkyHunter.
Read Next:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/10/35463701/rtx-rafael-to-launch-missile-production-hub-in-arkansas-production-ramp-up-scheduled-for-2025" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">RTX &amp; Rafael To Launch Missile Production Hub In Arkansas: Production Ramp-Up Scheduled For 2025</a>
Price Next:&nbsp;RTX shares are trading higher by 0.43% premarket to $82.21 premarket on the last check Friday.
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Aerospace Giant RTX Picks Christopher Calio To Succeed Gregory Hayes As CEO In May 2024

RTX Corp&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>) Collins Aerospace disclosed a collaboration with&nbsp;easyJet PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/esyjy#OTC">ESYJY</a>) to activate GlobalConnectSM connected aircraft services on over 330&nbsp;Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsy#OTC">EADSY</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/12/n36063583/easyjet-collaborates-with-rtx-to-enhance-operations" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">aircraft in its fleet.</a>
RTX plans to progressively activate GlobalConnect services across easyJet&#39;s fleet in the coming months, starting before the year&#39;s end.
With the deal, easyJet will become the largest A320 operator globally to deploy GlobalConnect, with the new capability boosting safety oversight, pilot training, and operational efficiencies.
The adoption of this data exchange and analytics capability aids in simplifying the avionics architecture, and curtailing the additional weight can drive savings of up to 500 tonnes of carbon annually (when rolled out fleet-wide).
In October, RTX inked a joint venture deal with Rafael Advanced Defense Systems to build a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/10/35463701/rtx-rafael-to-launch-missile-production-hub-in-arkansas-production-ramp-up-scheduled-for-2025" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">manufacturing facility in East Camden, Arkansas</a>.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/11/35807059/defense-conglomerate-rtxs-pratt-whitney-unit-wins-defense-contract-worth-up-to-870m" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Defense Conglomerate RTX&#39;s Pratt &amp; Whitney Unit Wins Defense Contract Worth Up To $870M</a>
Price Action: RTX shares are trading lower by 0.06% at $82.27 premarket on the last check Monday.&nbsp;
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RTX's Collins Aerospace Joins Hand With easyJet To Boost Aircraft Efficiency

In response to the recent Hamas militant assault on Israel, numerous global airlines have reportedly suspended their flights to Tel Aviv, citing security concerns, and will await safer conditions before restarting their services.
The act by Hamas on Saturday resulted in the tragic loss of 700 Israeli lives and the capture of several individuals, marking the most devastating attack since the Yom Kippur war five decades prior, leading Israel to launch a counteroffensive against the Gaza region in Palestine, reported Reuters.
Major American carriers, including&nbsp;United Airlines Holdings, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>),&nbsp;Delta Air Lines, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dal#NYSE">DAL</a>), and&nbsp;American Airlines Group, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>), reportedly announced the suspension of their direct flights.
European airlines such as&nbsp;Air France-KLM&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/aflyy#OTC">AFLYY</a>)&nbsp;&nbsp;and Finland&#39;s&nbsp;Finnair Oyj&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/fnnnf#OTC">FNNNF</a>) have also reportedly temporarily halted their services to Tel Aviv.
Typically, these U.S.-based airlines operate direct routes from prominent cities, including New York, Chicago, Washington, DC, and Miami.
The report noted that United clarified its stance by mentioning that while it did operate two flights from Israel to the U.S. late on Saturday and early Sunday, the current situation prompted a pause in services.
The report further added that Delta has also affirmed the cancellation of its flights &quot;into this week&quot; and will adjust schedules based on the evolving conditions.
EasyJet Plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/esyjy#OTC">ESYJY</a>) of Britain reportedly joined in by announcing the suspension of its flights on Sunday and Monday, hinting at potential changes in flight schedules for the days to come.
The report added that Hainan Airlines, the sole Chinese airline offering flights between Israel and China, called off its Tel Aviv-Shanghai flights for Monday due to the security landscape in Israel.
Cathay Pacific Airways Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cpcaf#OTC">CPCAF</a>) has also canceled its Hong Kong-Tel Aviv route for Tuesday, with updates expected for the next flight on Thursday. Meanwhile,&nbsp;Korean Air Lines Co Ltd&nbsp;axed its Monday service from Incheon to Tel Aviv, projecting unpredictable scheduling for subsequent flights, the report added.
Price Action: UAL shares are trading down by 2% in premarket at $40.98 on the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Several Airlines Hit Pause On Tel Aviv Amid Rising Tensions: Report

After easyJet plc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/esyjy#OTC">ESYJY</a>) showed robust summer bookings last week, Ryanair Holdings plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ryaay#NASDAQ">RYAAY</a>) joined the trend today as its quarter results show that consumers are prioritizing travel despite persistently high inflation that is squeezing their budgets.&nbsp;&nbsp;
Ryanair reported a near-record annual profit while everyone, including Expedia Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/expe#NASDAQ">EXPE</a>) and IAG who owns British Airways, expects travel to stay hot this summer.&nbsp;
<h3>Flying Back To Profit</h3>
During the year ended in March,&nbsp;Ryanair has bounced back to a near-record &euro;1.4&nbsp;billion ($1.57 billion)&nbsp;profit,&nbsp;after&nbsp;making&nbsp;a &euro;355m loss&nbsp;the previous year. The delivered profit also exceeded analyst and the company&rsquo;s own expectations, coming close to the record profit from the pre-pandemic 2018 that amounted to&nbsp;&euro;1.45 billion.&nbsp;While the European airline industry hasn&rsquo;t fully recovered, operating at about 95% pre-Covid capacity, Ryanair was operating at 125% of its pre-pandemic capacity, continuing on this growth trajectory.&nbsp;
<h3>Ambitiously Reaching For The Stars</h3>
With its largest-ever summer schedule that covers nearly 2,500 routes with 3,000 daily flights, Ryanair expects to be flying 186 million passengers this year. Its long-term goal by 2034 is to transport 300 million passengers annually, which is more than any airline has done so far. Ryanair has spent $40 billion to purchase 300 new aircrafts from The Boeing Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) as it continues pursuing its ambitious agenda.
<h3>A Cautiously Optimistic Outlook</h3>
CEO Michael O&rsquo;Leary was cautiously optimistic while expecting profits to further increase, but moderately, this year and therefore, topping the 2018&rsquo;s record with robust demand. Although summer demand is expected to be strong, soaring fuel costs need to be hedged effectively. Moreover, winter and the off-peak periods will be the ultimate test. Also, Boeing delivery delays could hamper 2024&rsquo;s capacity.&nbsp;&nbsp;&nbsp;
<h3>The Promise Of Its Multibillion-Dollar Deal With Boeing</h3>
The&nbsp;300&nbsp;ordered jets&nbsp;from Boeing&nbsp;are expected&nbsp;enable&nbsp;traffic to grow to 300 million passengers&nbsp;annually by&nbsp;March 2034. Ryanair will be adding 110 new Boeing jets over the next tree summer and therefore, open remarkable opportunities for the Irish airline. But Boeing&rsquo;s delays in deliveries could potentially reduce first half passenger numbers by as many as 750,000 with the airline already expecting to be 10 jets short in June and July. O&rsquo;Leary expects deliveries to go smoother next summer as aircrafts for the summer of 2024 should arrive by the end of next May.
<h3>The Covid-19 Pandemic Made Travel &lsquo;More Resistant&rsquo; To Inflation&nbsp;</h3>
Despite inflation weakening consumer spending, it is crystal clear that European consumers are prioritizing travel over other types of entertainment.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.

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<ul>
<li>Gatwick Airport in London is&nbsp;<a class="editor-rtfLink" href="https://mediacentre.gatwickairport.com/press-releases/all/22_06_17_capacity_adjustment.aspx" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reducing the number of flights</a>&nbsp;during the peak summer period due to staff shortages.</li>
<li>The decision to temporarily reduce flights follows a review of its operations to help passengers &quot;experience a more reliable and better standard of service.&quot;</li>
<li>The daily flights will be cut to 825 in July and 850 in August.&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/world/uk/londons-gatwick-caps-summer-flight-numbers-over-staff-shortages-2022-06-16/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters reported</a>&nbsp;that the numbers are from around 900 flights on peak days in August.</li>
<li>Stewart Wingate, the airport&#39;s chief executive, said that during the week of the Queen&#39;s Platinum Jubilee celebrations, several companies operating at the airport had struggled because of staff shortages.</li>
<li>&quot;By taking decisive action now, we aim to help the ground handlers - and also our airlines - to better match their flying programs with their available resources,&quot; he said.</li>
<li>Wingate said the decision would allow the airlines and passengers to plan and avoid last-minute cancellations.</li>
<li>Airlines including&nbsp;Deutsche Lufthansa AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/dlakf#OTC">DLAKF</a>) and Easyjet (OTC: <a class="ticker" href="https://www.benzinga.com/stock/esyjy#OTC">ESYJY</a>) have already announced plans to reduce flights this summer, as per the Reuters report.</li>
<li>Photo via Wikimedia Commons</li>
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London's Gatwick Airport To Fly Lesser Number Of Flights During Summer Season

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<li>Amid Russia&#39;s invasion of Ukraine, the oil price has surged to its highest level since 2008. This oil price increase comes as many carriers are forced to fly longer routings to avoid Russian and Ukrainian airspace,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/aerospace-defense/airlines-use-hedging-fuel-surcharges-offset-some-pain-oil-surges-2022-03-07/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported Reuters</a>.</li>
<li>The price surge is another addition to airline costs when the carriers have already struggled to recover from a pandemic-related dip in demand.</li>
<li>On Saturday, Malaysia&#39;s AirAsia,&nbsp;Capital A Berhad&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/aiabf#OTC">AIABF</a>), introduced fuel surcharges on tickets for the first time since 2015.</li>
<li>Chinese airlines also raised fuel surcharges on domestic routes, its aviation regulator said, while Emirates,&nbsp;Japan Airlines&nbsp;Co Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/japsy#OTC">JAPSY</a>), and&nbsp;ANA Holdings Inc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/alnpy#OTC">ALNPY</a>) raised their surcharges recently, the report added.&nbsp;</li>
<li>Some carriers are fully unhedged, like&nbsp;Wizz Air&nbsp;Holdings PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/wzzaf#OTC">WZZAF</a>)) and U.S. majors&nbsp;United Airlines Holdings Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>),&nbsp;American Airlines Group Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>), and&nbsp;Delta Air Lines Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dal#NYSE">DAL</a>), though the latter owns an oil refinery, the report noted.</li>
<li>Others have oil hedges that will help offset portions of the price increase, like&nbsp;Air France-KLM&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/afraf#OTC">AFRAF</a>), which has hedged 72% of oil consumption for the first quarter and 63% for the second quarter at $90 a barrel.</li>
<li>Air New Zealand&nbsp;Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/anzff#OTC">ANZFF</a>) has hedged 1.34 million barrels of oil in the current half ending June 30 and 707,500 barrels in the following half-year period. The carrier also raised international fares by about 5%, citing rising oil prices and general cost inflation.</li>
<li>Cathay Pacific Airways&nbsp;Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cpcay#OTC">CPCAY</a>) hedged more than 60% of its expected first-quarter consumption and about half of its second-quarter consumption.</li>
<li>EasyJet PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/esyjy#OTC">ESYJY</a>) airline 60% hedged for fuel in the financial year ending on September 30 at around $504 per metric tonne.</li>
<li>Deutsche Lufthansa AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/dlaky#OTC">DLAKY</a>) is 63% hedged in 2022 at a break-even price of $74 a barrel.</li>
<li>Qantas Airways&nbsp;Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/qabsy#OTC">QABSY</a>) has more than 90% of its fuel hedged in the current half and has a lower level of hedges in place for the following half-year period.</li>
<li>Ryanair Holdings plc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ryaay#NASDAQ">RYAAY</a>) is 80% hedged on fuel out to 2023. However, rising prices will still cost the airline group around 50 million euros ($54.22 million) over the next 12 months, the reported quoted CEO Michael O&#39;Leary.</li>
<li>Singapore Airlines&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/singy#OTC">SINGY</a>) has hedged 30% of its oil needs at an average Brent price of $57 a barrel for the six months ending March 31. It had also hedged 40% of its needs at an average price of $60 for the following five quarters.</li>
<li>Price Action:&nbsp;UAL shares are trading lower by 3.54% at $35.41, AAL lower by 3.08% at $14.14, DAL lower by 3.22% at $33.41, and RYAAY lower by 3.96% at $83.32 during the premarket session on Monday.</li>
</ul>

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Airlines Depend On Hedging, Fuel Surcharges As Oil Surges: Report

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EasyJet shares are trading lower after Liberum downgraded the stock from Buy to Hold.

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Benzinga's Top Ratings Upgrades, Downgrades For April 13, 2021

Liberum analyst Gerald Khoo downgrades easyJet (OTC:<a class="ticker" href="/stock/ESYJY#OTC">ESYJY</a>) from Buy to Hold.

Liberum Downgrades easyJet to Hold

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Benzinga's Top Ratings Upgrades, Downgrades For April 12, 2021

HSBC analyst Andrew Lobbenberg downgrades easyJet (OTC:<a class="ticker" href="/stock/ESYJY#OTC">ESYJY</a>) from Buy to Hold.

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