Would you believe it easyJet's share price is down. Just as we've been predicting for months here at Airline Confidential things are getting tricky. By the close their shares were trading at a shade over 450 pence, well down on the day; last spring they were up around 700 pence. It comes off the back of easyJet announcing their December results. Though passenger numbers increased by 9.9% on the back of new routes, there's been a sharp decline in their load factor (down over 2% points). Over extension some are saying and who are we to disagree. With consumer spending tightening things are only going to get worse. Four days ago easyjet announced their biggest ever sale. I would love to have been a fly on the wal in their forward planning meetings. There are likely to be some people in that company with a lot of egg on their face in nine months time.
Apparently stock market analysts remain cautiously optimistic for the prospects for budget carriers such as Ryanair and easyJet. Now if I was nursing a nett gain on my my Easyjet or Ryanair shares I think I'd take the money and run.
By the close on Friday easyJet are downto 433 p a share....