Easyjet CEO Flies Out In 2025 After Seven Years - UrduPoint

Source: UrduPoint

London, (APP - UrduPoint / Pakistan Point News - 16th May, 2024) Easyjet said Thursday that chief executive Johan Lundgren would step down at the start of 2025 after seven years piloting the no-frills airline, notably through Covid turbulence.

Airlines tend to log losses early on because of the northern hemisphere winter, typically a quieter travel period compared with the peak-demand summer season.

Lundgren said the carrier was "focused on another record summer which is expected to deliver strong full-year earnings growth".

The outgoing CEO added that he would "work closely" with Jarvis "to achieve this year's goals and hand over responsibilities smoothly".

A British national, Jarvis expressed delight at his appointment and opportunity "to fulfil Easyjet's bright potential".

Following news of the boardroom shakeup, shares in Easyjet slumped 7.2 percent to 491.40 pence, as investors weighed up the airline's future under new leadership.

"This is a natural time for Lundgren to step away, with a strong tenure under his belt and the post-Covid heavy lifting complete," said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown.

He was previously CEO of the airline division at travel group TUI.