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
Funds

The top funds to invest in

Investors continued to the passive preference throughout May, while high-yields were also sought. We look at the top funds, stocks and trusts that inv…
5 Jun 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
20 Apr 2023
Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
28 Mar 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023

Most Popular

Best debit and credit cards to use while travelling abroad
Personal finance

Best debit and credit cards to use while travelling abroad

If you’re going on holiday or travel abroad regularly, it’s worth knowing what the best card is to avoid hefty fees. We weigh up the charges and any p…
6 Jun 2023
Nationwide to give £100 cash boost to customers
Personal finance

Nationwide to give £100 cash boost to customers

Nationwide Building Society is giving customers £100 as it reinvests profits. Dubbed the Nationwide Fairer Share scheme, we look at who is eligible.
22 May 2023
A discounted REIT to buy now
Investments

A discounted REIT to buy now

This real estate investment trust is carving out a niche for itself by recycling old offices. Investors should take advantage of the discount and buy …
6 Jun 2023