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Andrew Monks article in main is disparaging and inaccurate in my viewFirstly he makes wayward comment about the motives why the current CEOis leaving Easy Jet when in fact the commentary should be "Well Done Carolyn for returning so much over your tenor to Shareholders and turning Easy Jet from a me2 operation to a credible footsie top 100 Business..." A Ceo role is akin to a precendency and its the right thing for change after 4 or 8 years in the position and its good for the company and its good for the individual, reading anything more into it is just mischief making and unfounded speculation.The other part of the article deals with crude oil prices but does not mention in 2008this spiked to over 150 $ per barrel ..Why it went to this level and then dropped by over70 $ per bar in weeks remains a mystery and for some reason is not being investigated or reviewed in the same way as LIBOR rigging by the banks or PPI its clear that some external force manipulated the oil price at this time and caused the failure of XL in the sector as well as creating melt down in the Banks.. in effect the Banks now are reaping what they sowed at the time and are now forced to put huge provisions in their accounts for potential future claims against them,Where i do agree with Andrew is in Aircraft finance and i see turbulent times aheadand a glut of Aircraft with no homes..Everything is cyclical and with oil prices set to stayaround 50-60 $ per barrel for the immediate future (4 years+) the economics of super fuel efficient expensive Aircraft(s) do not stack up with £1 being valued at only $1.30/€1.11overlay this with BREXIT and the recent 12.5 percent rise in British Gas prices and you start to see a bleak outlook for the outward UK Travel market for 2018 and 2019This is where the real challenge for the new CEO of Easy Jet starts as he or she must match the supply with demand and look to tap into more distribution through "Easy Holidays" and compete hard with JET2 for this market ..Easy Jet operate very new Aircraft average 7 years compared to Jet 2 with very old and unreliable Aircraft at average 17 years of age therefore with their operating bases throughout EU and UK easyjet are well placed to take a large share of the "Package Holiday Market" and compete with TUI and Thomas Cook in UK and Europe as well as JET2 in UK if the new CEO puts the right focus and resource to the sector and owns the passenger as opposed to simply white labeling as it does now..
Gatwick is closed to Jet 2 and Ryanair due slot constraints (unless they merge with Monarch)so Easy Holidays has a USP immediately and could quickly grow to 2 Million passengers on inclusive packages and should look at the Trade to help do this as it has and is doing for JET2...
i do not understand the comment with regards poison chalice at ITV i believe Carolyn will do a great job at ITV and hopefully compete with Sky Atlantic and produce some good UK drama in future to compete with this forward thinking channel,ITV put Easy Jet on every ones radar many years ago with the fly on the wall "Airline" programme that actually made Easy Jet so it all seems like it was meant to be..
Good Luck Carolyn and well done on what you have achieved at Easy Jet.
Whats is the point of a travel publication (that censors all) like TW/or TTG ?be forward thinking and independent (please)
i hope this is not removed too
To clarify, your comments were caught up in our automated spam filter and have now been approved
if TW want to be real why take down legitimate posts?re post my comments please ...........
Why give Andrew Monk the platform he craves?He is certainly no expert and he has never represented a large travel company his only ever followed Air Partner which is certainly no easy jet in terms of market cap etcI think his story is in main off the mark in 2008 XL failed due to the spike in oil pricesat 150 $ per barrel why know one really knows...But i believe speculators and banks were behind this as the price went down by over 80 $ a barrel after XL failed.They say "you reap what you sow" and certainly the banks since 2008 can testify to this with scandal after scandal PPI,claims of LIBOR rigging etc etc..the list is endless and the provisions the banks are making huge into many billions..personal accountability of the well paid executives remains at is zero though!
What the Shareholders of Easy Jet should be saying and what the commentary should be is"Thank you Carolyn.." she has done a great job and turned Easy jet from a me 2 operation into a reliable and well run business and as she says has left it in better shape than where she found it... Why speculate on her own reasons for moving ?It is the sensible thing to do any CEO should move on after 5-8 years its like a precedency and she is doing the right thing for the company and herself by recognising this.
As for Andrew Monks view save on Carolyn and oil prices he is probably onmark in terms of financing new Aircraft etc...In the final analysis if oil prices arebelow 65 $ per barrel the economics of operating NEW and very expensive super fuel efficient Aircraft will be dwarfed or cancelled out in higher lease costs or bank borrowingand as a result i see this and BREXIT will see growth stagnate in UK as the currency effect impacts on holiday prices for Summer 18 and thus people disposable income.The double digit rise by British Gas is a taster of things to come and when it comes topriorities the holiday will take second place to heating the home..Constant growth as we have seen since 2008 is not sustainable.
Easy Jet will need to ensure supply matches demand in the future and this is the newCEOs main challenge in addition to competing hard with Jet 2 Holidays and taking them down a peg or 2 as they operate very old Aircraft and cannot service Gatwick due to slot constraints and their product is not perfect as they operate a very old fleet of Aircraft(Average 17 years) that clearly are very unreliable when you read about the number of tech incidents they experience compared to Easy Jet with a much younger fleet (average age 7 years)i think Chris Browne the COO can sort this out for Easy Jet and createEasy Holidays as a brand to compete with TUI if she draws on all her experience and contacts over the years she worked at ATMays and World choice as well as First Choice and TUI she is a seasoned veteran so should know what shes doing...
Finally Good Luck Carolyn i believe you will do an excellent job at ITV and i can seeEasy Holidays being a mainstream brand over the next 5 years if the new CEO ensuresthe right focus and resource goes into the project and stops white labeling as you dont touch the passenger with this approach.
Ms McCall, has it not crossed your mind that ITV is a poisoned chalice ?