Jun 22 2026
Transport
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easyJet
Castlelake’s third bid
Castlelake has announced that it has submitted three non-binding indicative proposals to the easyJet Board to acquire the entire issued and to be issued share capital of easyJet with...
Wizz Air Holdings
FY26 in line; summer headwinds remain
Wizz Air has reported a FY26 net profit of €1.3m (Davy: -€75.5m, consensus: -€33m), in line with May guidance of breakeven to slightly positive. Under-utilisation of fleet drove ex-fuel...
Package holidays
Integrated airlines versus asset-light platforms
The UK holiday market is facing challenges as second order effects from the outbreak of the Middle East war continue to weigh on the sector. Consumer sentiment has shifted, with...
easyJet
Winter losses grow; H2 impacted by late booking curve
EasyJet has reported a H1 FY26 headline loss before tax of £552m, in line with consensus and guidance given in April’s trading update. On a capacity increase of 8% (ASKs), RASK was up...
Ryanair Holdings
Executing well through market turbulence after year of record profits
After a year of record net profits of €2.26bn (+40%), Ryanair is executing well through market turbulence. Marking to market for fuel, our estimates will come down to c.€1.92bn for...
On the Beach Group plc
Guidance reinstated at materially lower levels
On The Beach has reported its H1 FY26 results this morning with headline adjusted EBITDA of £6.4m (£12.8m H1 25) impacted by the Middle East war. Guidance had been suspended in March...
Wizz Air Holdings
Signals a more positive F26 result but is using promotional fares for the summer
Wizz Air expects to report a breakeven to slightly positive net profit result for the full year ended March 31st 2026 (it reports on June 11th). We assume FX plays a part in this. Wizz...
IAG
Expects 60% pass through on fuel
IAG is trading well in Q1, but as expected it is likely to have a significantly higher fuel bill for FY2026. Based on the fuel curve as at May 5th 2026, including hedging positions and...
Irish Continental Grp
Group executing through geopolitical turbulence
Irish Continental Group’s (ICG) scheduled AGM trading update continues the strong strategic implementation to date. It is too early to change our EBITDA 2026 estimates (€153.2m), but...
Hostelworld
AGM statement, reiterates guidance
Hostelworld released a brief trading update ahead of its AGM today. It notes that to date its revenues have not been materially impacted by the conflict in the Middle East. It...
