Royal Mail Group Ltd.’s initial public offering is significantly oversubscribed and many institutional investors that applied to take part will get no allotment, two people familiar with the sale process said.
EasyJet Plc Chief Executive Officer Carolyn McCall says the U.K. airline is ready to win sales from global clients as pre-booked seats, higher frequencies and deals with corporate bookers consign its no-frills focus to history.
EasyJet Plc shareholders backed an order for 135 Airbus SAS jets valued at $13 billion, cementing Chief Executive Officer Carolyn McCall’s strategy of going toe- to-toe with former flag carriers on short-haul routes.
Carolyn McCall , EasyJet Plc ’s new chief executive officer, said flight delays at London’s Gatwick airport are her most immediate concern after joining Europe’s second-biggest discount airline four weeks ago.
Richard Branson was handed a lifeline that may keep him in U.K. rail after FirstGroup Plc was stripped of Britain’s West Coast inter-city route, which it won from his Virgin Group in August. FirstGroup fell almost 21 percent.
U.K. stocks climbed to a five-month high as EasyJet Plc said full-year profit beat its forecast and speculation mounted that central banks may follow Japan’s move this week to provide more aid to stimulate the economy.
International Consolidated Airlines Group SA , formed in January from a merger of British Airways and Spain’s Iberia, is concentrating more on extracting savings from the deal than expanding through further takeovers, Chief Executive Officer Willie Walsh said in an interview.
Ryanair Holdings Plc, Europe’s biggest discount airline, increased fiscal second-quarter profit 23 percent and raised its forecast for full-year earnings after strong summer sales helped boost fares more than anticipated.
EasyJet Plc Chief Executive Officer Carolyn McCall said Europe’s second-largest discount airline will offer flexible tickets to lure business flyers, increasing competition with network carriers including British Airways Plc .