The easyJet share price is at a critical level ahead of the company’s earnings that are scheduled for Thursday this week. The EZJ stock is trading at 985p, which is at an important support, as I will explain below. The results will come four days after the mixed earnings by Ryanair.
easyJet earnings ahead: easyJet is a leading airline group that is well known in Europe. Like all airlines, the company’s share price was hammered in 2020 as it was forced to put its planes in storage. The stock has made a strong rebound as investors price-in a rebound of the global aviation industry as the vaccination process gains steam. Indeed, many airlines like IAG and Ryanair have reported strong demand for their services.
Looking ahead, the company will publish its results on Thursday this week. While the results won’t be pleasing, investors will mostly focus on the company’s guidance. They will also look at its cash burn and liquidity. In the last earnings release, the company said that it had raised 3.1 billion pounds to boost its balance sheet. The management said:
“easyJet has not only withstood the impact of the pandemic, but now has an unparalleled foundation upon which to emerge strongly from the crisis. Our unmatched short-haul network and trusted brand will see customers choose easyJet when returning to the skies.
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