EasyJet in aircraft deal
EasyJet has done a deal with Airbus to exercise existing purchase rights over 27 A320 aircraft for delivery between 2015 and 2018.
The airline said the agreement gives it the ‘flexibility to continue to execute its proven strategy of disciplined growth and to take advantage of profitable market opportunities’.
It means easyJet is expected to have a fleet of 304 aircraft by 2019.
Chief executive Carolyn McCall said: "We are bringing new aircraft into the fleet as we continue to see a significant number of new profitable opportunities in our core markets in the near term and in order to maintain our cost advantage."
The A320 aircraft delivers a cost per seat improvement of between 7% and 8% compared to A319 aircraft.
"These aircraft are subject to a very substantial price discount from the list price and are expected to be funded through a combination of easyJet’s internal resources, cashflow, sale and leaseback transactions and debt," said the airline in a statement.
EasyJet also announced today that it is to increase the payout ratio for the ordinary dividend from one third of profit after tax to 40% of profit after tax ‘in light of the continued strong financial performance’ and ‘confidence in the future’.
The change will be made from the end of this month.
In a statement today, it said further details would be announced with the full year results on November 18.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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