What's new:
• Modest profit warning
• Rising capacity at Gatwick is putting pressure on prices
• Solid trading
IC TIP:
Buy
at
1,331p
The profit warning has landed. Analysts at Bank of America Merrill Lynch, who said they expected easyJet (EZJ) to warn on profits for the 2014 financial year, have been proven right. Despite a strong third quarter, during which total revenue grew by nearly 9 per cent to £1.2bn, easyJet chief executive Carolyn McCall said annual pre-tax profits would reach £545m-£570m, slightly below consensus forecasts. The share price fell about 5 per cent on the day these figures hit the market.