After a near four-year absence, EasyJet is expected to rejoin the prestigious FTSE 100 index in the upcoming quarterly reshuffle, according to indicative data from FTSE Russell.
Positive Performance
The budget airline has experienced a remarkable 34% surge in its share price over the past three months, fueled by a surge in travel demand. EasyJet’s optimistic outlook includes expectations of reporting a reduced loss for the first half of fiscal 2024, supported by strong summer bookings.
During the first quarter of the fiscal year, EasyJet reported a 22% increase in revenue and disclosed a 14% rise in the number of passengers carried.
Financial Snapshot
Currently trading at approximately 558.20 pence, EasyJet boasts a market capitalization of 4.23 billion pounds ($5.34 billion). This anticipated return to the FTSE 100 marks the airline’s third stint in the esteemed index.
In comparison, Endeavour Mining has experienced a 24% decline in its share price over the past three months. Trading at around 1,314.0 pence, the company’s market value stands at GBP3.22 billion. Endeavour has been part of the index since March 2022.
What to Expect
The impending changes will be announced after the market closes on Feb. 28 based on the previous day’s closing share prices. The FTSE 100 index comprises the top 100 highly-capitalized companies listed on the London Stock Exchange, with strict criteria for inclusion and removal.
Stay tuned for the official update as EasyJet looks to reclaim its position among the UK’s financial elite.
