easyJet (EZJ) RNS Announcements

EasyJet plc is a British multinational low-cost airline group headquartered at London Luton Airport. It operates domestic and international scheduled services on 927 routes in more than 34 countries via its affiliate airlines EasyJet UK, EasyJet Switzerland, and EasyJet Europe.

Since its establishment in 1995, EasyJet has expanded through a combination of acquisitions and base openings fuelled by consumer demand for low-cost air travel. The group, along with associate companies EasyJet UK, EasyJet Europe and EasyJet Switzerland, operates 308 aircraft. It has 29 bases across Europe, the largest being Gatwick. In 2022, the airline carried more than 69.7 million passengers, making it the second-largest budget airline in Europe by number of passengers carried, behind Ryanair.

EasyJet has its roots in the business activity of Greek-Cypriot Stelios Haji-Ioannou, who reportedly gained an interest in the aviation business after being approached as a potential investor in Virgin Atlantic's Greek franchisee. Recognising a vacant niche in the market, Stelios decided to examine the prospects for launching his airline, having secured a commitment of a £5 million loan from his father. While studying various business models in the industry, Stelios took a significant interest in the American operator Southwest Airlines, which had successfully adopted the practice of price elasticity to be competitive with traditionally cheaper buses and attract customers that would not normally have considered air travel. This principle became a cornerstone of EasyJet's operations.

EasyJet share price launched at 294p in 1993.