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

Bunzl: boring is good for business
Share tips

Bunzl: boring is good for business

Food-service distribution company Bunzl is not a terribly exciting business, but it looks cheap and could be a great investment, says Rupert Hargreave…
30 Jun 2022
Five dividend stocks to beat inflation
Share tips

Five dividend stocks to beat inflation

During periods of high inflation, dividend stocks tend to do better than the wider market. Here, Rupert Hargreaves pick five dividend stocks for incom…
30 Jun 2022
Three Sharia-compliant growth companies
Share tips

Three Sharia-compliant growth companies

Professional investor Scott Klimo of the Saturna Al-Kawthar Global Focused Equity ETF tips three Sharia-compliant stocks.
30 Jun 2022
Why the cost of living crisis could be a boon for this cheap retailer
Retail stocks

Why the cost of living crisis could be a boon for this cheap retailer

Like many retailers, B&M is facing the dual headwinds of lower sales and higher costs as inflation bites. But its business model has proved hugely suc…
29 Jun 2022

Most Popular

Prepare your portfolio for recession
Investment strategy

Prepare your portfolio for recession

A recession is looking increasingly likely. Add in a bear market and soaring inflation, and things are going to get very complicated for investors, sa…
27 Jun 2022
Market crash: have we hit bottom or is there worse to come?
Stockmarkets

Market crash: have we hit bottom or is there worse to come?

For a little while, markets looked like they were about to embark on a full-on crash. And that could still happen, says Dominic Frisby. Today, he look…
27 Jun 2022
What the end of the 1970s bear market can teach today’s investors
Stockmarkets

What the end of the 1970s bear market can teach today’s investors

The 1970s saw the worst bear market Britain has ever seen, with stocks tumbling 70%. Things have changed a lot since then, says Max King. But there ar…
28 Jun 2022