Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Airline EasyJet has announced plans for a £1.2 billion rights issue and revealed it had been subject to an unsolicited all-share takeover offer which had rejected.
The proceeds from the raise, combined with a new $400 million credit facility will be used to shore up the balance sheet, look to take advantage of opportunities coming out of the pandemic, boost ancillary revenue and invest in a new generation of aircraft to improve carbon and cost efficiency.
The company also reported that in August 2021, UK domestic capacity was at 105% of 2019 levels with a load factor of 82%, whist intra-EU capacity was at 81% of 2019 levels with a load factors of 85%.
The directors expect the group's capacity in Q4 2021 to be approximately 57% of Q4 2019 levels, compared Q3 2021, when easyJet flew 17% of Q3 2019 capacity.
During Q4 2021, the company expects to increase capacity allocation and improve expected load factors on both UK domestic and intra-EU flying, with UK domestic capacity already at pre-pandemic levels.
Looking into Q1 2022, the Company currently expects to fly up to 60% of Q1 2019 capacity with a continued focus on profitable flying.