Business GrowthThere is a re-rating opportunity as easyJet benefits from a growing package holiday business, fleet renewal and self-help opportunities.
Financial PerformanceEasyJet reported FY-24 pre-tax profit marginally above expectation at £610m, and FCF at £308m is better.
Market ValuationThe Holidays business is undervalued by the market, suggesting potential for value realization and increased shareholder returns.