Following news of easyJet’s rights issue Mark Simpson, Airline Analyst at investment bank Goodbody, has commented:
“With easyJet’s rights issue raising nearly £1.2bn, projected debt has fallen significantly and balance sheet ratios have been restored to very attractive levels mitigating potential future risk.
This places the company in a much stronger position when it comes to bidding for slots at its primary airports, with Gatwick front of mind in this regard.
“Additionally, certain shareholder agitation may have been diluted through this process.
“Overall, we see the outcome of the rights as a positive sign of things to come for easyJet.”
easyJet has said its investors had bought 93% of the new shares on offer in its 1.2 billion pound ($1.64 billion) rights issue, designed to help fund its recovery from the pandemic.