Rolling coverage of the latest economic and financial news
EasyJet’s CEO is stepping down, after a gruelling seven years in which he handled the Covid-19 disrupion and soaring oil prices after Russia invaded Ukraine.
The budget airline has annnounced that chief executive Johan Lundgren will leave the company at the start of next year. CFO Kenton Jarvis has been appointed as his successor.
“easyJet continues to reduce losses during the quieter winter period, while summer bookings are strong. Greater airline capacity, increased revenue from ancillary services, and the growth of easyJet Holidays are adding to the spread of revenue sources and giving customers a better connection to the brand.
Johan Lundgren has navigated a particularly turbulent period for easyJet in the last seven years and his departure will be a loss to the company. But, he leaves the airline in a strong position and there are clear succession plans in place, providing a good deal of stability for easyJet as it continues on its upward trajectory. While the shares have rallied since October 2023, they remain some way off their pre-pandemic peak – so there is still plenty of room for growth.”
Continue reading…Rolling coverage of the latest economic and financial newsEasyJet’s CEO is stepping down, after a gruelling seven years in which he handled the Covid-19 disrupion and soaring oil prices after Russia invaded Ukraine.The budget airline has annnounced that chief executive Johan Lundgren will leave the company at the start of next year. CFO Kenton Jarvis has been appointed as his successor.“easyJet continues to reduce losses during the quieter winter period, while summer bookings are strong. Greater airline capacity, increased revenue from ancillary services, and the growth of easyJet Holidays are adding to the spread of revenue sources and giving customers a better connection to the brand.Johan Lundgren has navigated a particularly turbulent period for easyJet in the last seven years and his departure will be a loss to the company. But, he leaves the airline in a strong position and there are clear succession plans in place, providing a good deal of stability for easyJet as it continues on its upward trajectory. While the shares have rallied since October 2023, they remain some way off their pre-pandemic peak – so there is still plenty of room for growth.” Continue reading…
