easyJet begins trading on FTSE 100 and launches new route

easyJet made waves Monday as it began trading on the FTSE 100 and launched its first service between London and Moscow.

easyJet made waves Monday as it began trading on the FTSE 100 and launched its first service between London and Moscow.

The carrier's introduction of low-cost flights between London Gatwick and Moscow, which came on the same day as its debut on the FTSE 100, was hailed by ministers as a boost to trade and investment.

"I am certain it will help to deliver tremendous benefits to business and leisure passengers," said Transport Minister Simon Burns.

"It also demonstrates the ongoing capability of London's airport network to attract new, direct services with the world's largest markets."

The airline secured limited rights to the route after fighting off competition from Virgin Atlantic.

British Airways is the only other UK airline to fly to Moscow, with services from London's Heathrow.

easyJet expects to fly more than a quarter of a million passengers on the new route each year.

"Moscow is a landmark route and one we are delighted to be able to serve. Russia is the world's largest country with a growing economy," said Chief Executive Carolyn McCall.

"Offering frequent and affordable flights enables easyJet to play a key role to aid trade links between the two countries."

Direct flights from Manchester to Russia will start on March 28th.

McCall said bookings for both of easyJet's Russian routes has exceeded expectations, particularly from Moscow.

Shares in the group fell 1.49% to 1,056p at 13:50 Monday.

RD

Recommended

The top funds to invest in now
Funds

The top funds to invest in now

As market volatility continues, here are the top funds, stocks and investment trusts investors are putting their money into, according to one investme…
2 Dec 2022
7 sin stocks to buy yielding up to 8%!
Share tips

7 sin stocks to buy yielding up to 8%!

Sin stocks don’t have the best reputation, but when it comes to investment returns, they’re certainly worth a closer look.
2 Dec 2022
Share tips of the week – 2 December
Share tips

Share tips of the week – 2 December

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
2 Dec 2022
3 emerging-market stocks to watch
Share tips

3 emerging-market stocks to watch

The top emerging-market stocks to keep an eye on, according to Union Bancaire Privée’s Eli Koen.
1 Dec 2022

Most Popular

Is it cheaper to leave the heating on low all day?
Personal finance

Is it cheaper to leave the heating on low all day?

The weather is getting colder and energy bills are rising, but is it really cheaper to leave the heating on low all day or should you only turn it on …
1 Dec 2022
Radiator vs electric heater – which is cheaper?
Personal finance

Radiator vs electric heater – which is cheaper?

We compare the costs, pros and cons of radiators and electric heaters and see which one will help keep your energy bill as low as possible.
28 Nov 2022
State pension errors – why tens of thousands of mothers could be missing out on millions in state pension payments
State pensions

State pension errors – why tens of thousands of mothers could be missing out on millions in state pension payments

LCP launches Mothers Missing Millions campaign amid DWP state pension errors.
3 Dec 2022