easyJet - Continues to burn cash but waiting to capitalise when market normalises

Davy Research
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EasyJet is focused on its cost programme, leading network, step change in ancillary revenue and the development of easyJet holidays to see the airline emerge transformed post pandemic. However, it continues to burn cash (but at lower levels - £55m in the quarter). A capital review later in the year is likely to review all liquidity sources and the future capital structure.