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  easyJet

  IATA/ICAO Code:

  U2/EZY (UK) | EC/EJU (Europe) | DS/EZS (Switzerland)

  Airline Type:

  Low-Cost Carrier

  Hub(s):

  Amsterdam Schiphol Airport, Berlin Brandenburg Airport, Geneva Airport, London Gatwick Airport, London Luton Airport, Milan Malpensa Airport

  Year Founded:

  1995

  CEO:

  Johan Lundgren

easyJet shareholders voted to approve the purchase of 56 Airbus jets at an extraordinary general meeting on Wednesday. The vote confirmed a tentative order with the Toulouse plane maker, with Airbus announcing the firm order shortly afterward. Despite some previous concerns about the purchase from key shareholders, the need to lock in the supply of new planes over the medium to long term to support network growth outweighed other issues.

easyJet to bulk up their Airbus fleet

The Luton Airport headquartered airline is already a big Airbus customer, with over 300 of their A320 family in the air. Following Wednesday's meeting, an additional 56 A320neo family aircraft will join the fleet between 2026 and 2029. Additionally, an existing order for 18 A320neo family planes will be converted into orders for 18 A321neo aircraft. Those conversions will land between 2024 and 2027.

"We believe this order will support positive returns for the business and the delivery of our strategic objectives," said Kenton Jarvis, Chief Financial Officer at easyJet. "The new aircraft are aligned with easyJet's sustainability strategy, with the adoption of the more efficient new technology aircraft being a core component of easyJet's path to net-zero emissions. Alongside this, the new aircraft are significantly quieter, with half the noise footprint of the older aircraft they are replacing."

Driving the purchase decision is easyJet's plan for fleet renewal and up-gauging, cost, and sustainability enhancements to the business. At list prices, the value of Wednesday's deal is around US$6.5 billion, although easyJet has said it will rely on a longstanding agreement with Airbus to extract a significant discount.

Some relief from a hard summer at easyJet

Wednesday's deal comes midway through a hard summer for easyJet. Unusually high temperatures around Europe are causing flight disruptions at easyJet and elsewhere. Longer-term, ongoing labor shortages and operational issues at European airlines and airports have caused rolling problems at easyJet. However, easyJet CEO Johan Lundgren says he is getting on top of those challenges.

"We can't help if runways are closed down because they're melting," he said at the Farnborough International Airshow this week. "But the things that actually are within our control - they've been stabilized.

Simple Flying is at the Farnborough Airshow this week. For all the latest news from the show click here!

Mr Lundgren acknowledged the current challenges around the air traffic control environment, ground handlers, and airports. He notes they've dodged many of the capacity issues impacting airlines at Heathrow simply because easyJet doesn't use that airport. But the CEO also said be broadly backed capping flights, something easyJet has already done this summer.

"We were supportive of a cap. because clearly, the airport is in the best situation to evaluate what the whole of the system can deliver, in terms of ground handlers as an example," Mr Lundgren said. "It is the airport that has the best view of the situation."

The easyJet/Airbus announcement on Wednesday confirms a tentative order, so it isn't new news. But it is welcome news for Airbus this week, who've been thoroughly outgunned in the sales stakes at Farnborough by Boeing. Smaller players Embraer and ATR are also doing well. While those manufacturers regularly spit out statements detailing new sales, Airbus languishes. Rumored Airbus deals have so far failed to materialize. There are still two days to go at Farnborough, so there remains time for a late run from Airbus, but they'll need a few easyJet style deals to match Boeing's sales successes this week.