easyJet share price under pressure ahead of H1 results

Graphic of trading data chart
Fiona Cincotta
By :  ,  Market Analyst
 

The budget airline easyJet is due to report half year results on Thursday 20th May.

If peer Ryanair’s numbers are anything to go on, they are likely to make for pretty grim reading.

Cash burn will be in focus. Last month easyJet guided for £690 - £730 million pre-tax loss and had £2.9 billion in liquidity. This should be plenty as long as international travel ramps up soon and they are no more restrictions in the coming years.

So far the re-starting of international travel in the UK has been underwhelming with on a few key holiday spots on the government’s travel quarantine free greenlist. Hopes are that this list will grow next month.

The easyJet share price has not enjoyed the same level of recovery as Ryanair’s share price which now trades back at pre-pandemic levels.

The easyJet share prices is currently testing a key support at 1000p ahead of Thursday’s release.

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