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EasyJet Doubles Dividend During Tough Times for Rivals

While their competitors struggle with rising fuel costs and the crisis in the Eurozone, easyJet is flying high.  The airline’s annual results showed that they doubled their dividends this past year.  This was possible since many travellers took late summer vacations and booked them on cheap flights and the airline is also picking up business from their struggling European rivals.  There have even been competitors who have gone out of business entirely.

 

Examples of struggling rivals include Iberia of Spain, which announced this past month that they would be letting go nearly one quarter of its workforce and taking a close look at its network.  Germany’s Lufthansa has also said that it will be cutting costs.  Richard Hunter, head of equities at stockbroker Hargreaves Lansdown, said that considering the troubles faced by so many, the doubling of their dividends was “a clear statement of management intent around easyJet’s prospects.”

 

The above article is a summary.  Please see the source article at Google News.

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