EasyJet’s Cost of Cash Sinks After Johnson’s Summer Travel Plan
- Carrier’s first bond sale since 2019 was four times subscribed
- Airline stocks are surging, with EasyJet up 18% this week
Ground crew inspect the underside of an EasyJet passenger aircraft at Nice Cote d'Azur Airport, France.
Photographer: Jeremy Suyker/BloombergThis article is for subscribers only.
EasyJet Plc saw big demand for its first bond sale since 2019, underscoring the strength of the reopening trade even for the battered tourism industry.
The discount airline’s 1.2 billion euro ($1.5 billion) sale of seven-year notes was four times subscribed on Wednesday, according to a person familiar with the matter. The enthusiasm for the deal drove down borrowing costs, with yields falling as much as 37.5 basis points, the person said.