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Easyjet shares fall 25 per cent
News of travel and tourism shares was yesterday dominated by easyjet, which lost some 25 per cent of its value after issuing a profits warning.
Shares in the no-frills carrier dropped 73p to close at 219p after admitting it had been hurt by “unprofitable and unrealistic” pricing by its competitors. The fall represented some £250 million in terms of the carrier’s overall value.
Easyjet stated that it was “cautious” regarding its full-year results, announcing it had lost £18.5 million in the six months to April.
Elsewhere, Ryanair fell back 11.375p to 302.75p abd British Airways lost 3.75p to end the day at 280p.
The FTSE 100 index added 22.3 points to close at 4569.5, and the FTSE 250 lost 10 points to end the day at 6218.8.
Alpha Airports 77p NO CHANGE
BAA 532p UP 1.5p
British Airways 280p DOWN 3.75p
Carnival 2497p UP 2p
De Vere 443p UP 3p
EasyJet 219p DOWN 73.25p
ebookers 283p DOWN 1.5p
EuroDisney 27p NO CHANGE
Eurotunnel 26p DOWN 0.25p
First Choice 124.75p DOWN 1.25p
Hilton Group 250.5p UP 0.5p
Holidaybreak 498p DOWN 2p
Intercontinental 535.5p UP 0.5p
Lastminute.com 196p UP 1p
MyTravel 8p DOWN 0.25p
P&O 217.25p DOWN 1p
Rank Group 319p DOWN 0.5p
Ryanair 302.25p DOWN 11.375p
Stagecoach 82p NO CHANGE
TBI 66.75p NO CHANGE
Report by Tim Gillett, News From Abroad
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