EasyJet has 'structural advantage' as airline stocks tumble, fund manager says

  • 📰 CNBC
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 72%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

British carrier easyJet has a 'structural advantage' over its peers as airline stocks continue to be hammered by coronavirus fears, according to Miton Group Fund Manager Eric Moore.

Speaking to CNBC's "Squawk Box Europe" Wednesday, Moore suggested that while there would undoubtedly be a short-term hit to demand, the stock's prospect would depend on whether the outbreak fundamentally alters consumer behavior.

"EasyJet itself has very short visibility, maybe six weeks forward visibility, so it is definitely going to be difficult, but if you think we are just going to push things to the right and in the long run, consumer behavior won't change, people will still want to go on their holidays, people are going to take business trips, then it is a buying opportunity," Moore said.

While the U.K. has mostly contained its instances of the virus so far, Moore projected that the situation will get worse, given this week's rate of new cases across Europe, and that airline stocks will likely be even cheaper in a few weeks' time.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Airline stocks tumble as the coronavirus spreads outside of ChinaAirline stocks fell more than the broader market on concerns about the spread of the coronavirus in South Korea and Italy. China lied to us about the CORONA VIRUS - now nobody beleives the numbers and conspiracies are everywhere. FIX THIS CHINA !
Source: CNBC - 🏆 12. / 72 Read more »

Global Stocks Extend Losses as Virus Fears DeepenStock markets in Europe and Asia as well as U.S. futures continued a course of steep selloffs as concerns over the economic cost of the new coronavirus gathered pace. Global recession is imminent... Oil futures now flirting with 49$ The struggle is real! I know what a real struggle is and the kind of guy and situation where a real struggle would ensue.I believe that they should have filed something, anything when it happened and a rape kit taken because if it was by force it would show and if she was too
Source: WSJ - 🏆 98. / 63 Read more »

Disney, Amazon, ViacomCBS Shares Hit as Stock Market Tumbles Amid Coronavirus FearsFears of the Coronavirus spreading across the world sent major stock indices tumbling on Monday morning. Shares of Disney and Amazon were down more than 4% in early trading as reports that the dead…
Source: Variety - 🏆 108. / 63 Read more »

Stocks tumble as coronavirus spreads, sparking worry of global economic slowdownThe Dow fell 1,031 points, the third-highest point decline on record. On a percentage basis, the 3.56% pullback was nowhere near the worst.
Source: latimes - 🏆 11. / 82 Read more »

Coronavirus live updates: Asia stocks set to tumble again, Royal Caribbean cancels 30 cruisesMarkets in Japan were set to tumble at the open again as Wall Street saw another plunge overnight on virus fears.
Source: CNBC - 🏆 12. / 72 Read more »