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Today's big stories

EasyJet reported another full-year loss, but it was smaller by far than the last two
This long-shunned asset has started to turn heads again – Read Now
HSBC announced it’s selling its Canadian business to Royal Bank of Canada

Not So Easy, After All

What’s Going On Here?

EasyJet reported a loss for the last financial year on Tuesday, but recent metrics show the firm’s getting airborne.

What Does This Mean?

EasyJet’s $214 million annual loss (before tax) isn’t quite as alarming as it first seems: first off, it’s a whole lot smaller than the losses racked up in Covid-addled years, which came in over $1 billion two years straight. Second, EasyJet actually has a lot to be proud of, despite its lackluster bottom line: last quarter was strong, and a record bounce-back in passenger demand saw the airline rake in its highest-ever earnings for a single quarter. And that strong final stretch helped passenger numbers triple over the financial year, while revenue grew fourfold and headed north of $6.5 billion. And with early bookings for next year already looking positive, EasyJet’s feeling confident it’ll be back at pre-pandemic capacity by next summer.

Why Should I Care?

For markets: Expanding while the world contracts.
It wasn’t all rosy for EasyJet: the firm’s shares fell 5% despite those upbeat stats, meaning they’re now down nearly 40% this year. And investors’ caution could be well-founded: EasyJet’s planning to up capacity while economies are cooling down, in a bet that cash-strapped customers will prioritize travel over other nice-to-haves (tweet this). But demand for flights has moved in lockstep with economic growth in the past – and EasyJet’s biggest market, the UK, is hardly poised for an economic renaissance right now.

The bigger picture: It’s plane madness.
EasyJet’s already started to recruit for summer 2023, in a bid to avoid the labor snags that plagued them earlier this year. But whatever happens next year, some airlines are hoping to overcome those issues and cut costs in the future by scheduling just one pilot per flight. In fact, the European Union Aviation Safety Agency is already working on the idea with plane manufacturers, and reckons single-pilot flights could take off as early as 2027.

You might also like: The highs and lows of investing in the airline industry.

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Analyst Take

This Ugly-Duckling Asset Is Looking A Lot More Like A Swan

By Russell Burns, Analyst

Major investment banks and fund managers say there’s one asset that’s starting to look more attractive than the rest.

And recent ETF buying activity shows that retail investors are beginning to come to the same conclusion.

Here’s the thing: with so many investors still ignoring this long-shunned asset, you can still buy it at some pretty good prices.

So that’s today’s Insight: we’re looking at the unloved asset that’s starting to turn heads again.

Read or listen to the Insight here

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Disclaimer

This content is for US investors only, if you are not a US investor please ignore this content. This content is a paid advertisement for Upexi (NASDAQ: UPXI) from Interactive Offers and Finimize. This is not Finimize editorial content. Finimize received a fixed fee for producing, hosting and promoting this content on behalf of Upexi, totalling $23,000. Other than the compensation received for this service, Finimize and its principals are not affiliated with either Interactive Offers or Upexi. Finimize and its principals have no ownership in Upexi. The content on this page should not be taken as advice, an endorsement, or a recommendation from Finimize and its principals to buy or sell any security. Finimize and its principals have not evaluated the accuracy of any claims made on this page. Finimize and its principals recommend that investors do their own independent research and consult with a qualified investment professional before buying or selling any security. Investing is inherently risky and capital is at risk. Past performance is not indicative of future results.