easyJet boss halves stake
31.01.09
The chief executive of Luton Airport based easyJet, Andrew Harrison, has pocketed £1.3m from the sale of almost half his stake in the budget airline. He sold 400,000 shares at 326p each, leaving him with just under 439,000 shares.
Last week the budget airline's shares climbed sharply after it said first half revenues would come in above expectations, with the current market price close to a four-month high and well above last November's 3½-year low of 220p. Shares in easyJet fell nearly 5% on the news.
On a more positive note, analyst Uwe Weinreich of UniCredit upgraded easyJet from ‘sell’ to ‘hold.’ The upgrade reflects an improved outlook and the company’s optimistic fleet expansion programme, he said.
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