September 9th - Back on the Rails
Simon Calder's Independent Travel Podcast
The Independent
3.6 • 628 Ratings
🗓️ 9 September 2021
⏱️ 7 minutes
🧾️ Download transcript
Summary
Today: easyJet and Wizz Air call the whole thing off
The “traffic light” review – what can we expect?
And back on the rails? Let’s see.
LNER reports leisure passenger numbers are now above pre-pandemic levels, but business travel is still only at the halfway mark.
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Transcript
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| 0:00.0 | Hello, it's Thursday the 9th of September and thanks for joining me, Simon Calder, for the latest on travel and destinations from the Green List and the travel desk of the Independent. |
| 0:11.0 | Today, EasyJet and Whizair call the whole thing off. The traffic light changes. What can we expect? |
| 0:19.9 | And back on the rails? Well, maybe for leisure passengers, |
| 0:24.2 | but not for business. Of course, this podcast is completely free. Do feel free to sign up at |
| 0:30.5 | independent.com.uk. Forward slash newsletters. And it will drop into your lucky old email inbox at 7 o'clock tomorrow morning. |
| 0:41.1 | Well, we woke up this morning, that's the world, to the news that EasyJet has declined a proposal. |
| 0:52.3 | What this is all about is basically that EasyJet, of course, has struggled through the |
| 0:57.9 | coronavirus crisis, seen its traffic numbers extremely depleted, it's lost an absolute |
| 1:04.5 | fortune currently losing about £5 million a day, which I would imagine is quite annoying. |
| 1:12.1 | Anyway, it is reported that its rival, Whiz Air, wanted to take over it. |
| 1:18.8 | Now, Whizair is actually a smaller airline, but they would have done some interesting things |
| 1:23.5 | involving shares to get it to work. |
| 1:27.3 | In a financial announcement this morning, |
| 1:29.3 | ECJet said the board recently received an unsolicited preliminary takeover approach. |
| 1:35.4 | This was carefully evaluated and then unanimously rejected. And the reason it was, |
| 1:40.7 | quote, a low premium and highly conditional all share transaction, which in the |
| 1:46.0 | board's view fundamentally undervalued the company. Well, that has now been dropped. |
| 1:54.2 | It's interesting to imagine what the world would have been like. Now, in many ways, |
| 2:00.1 | Wizzair and EasyJet are a match made in heaven. |
| 2:04.0 | That's simply because, well, they are both in the UK based at Luton Airport. |
| 2:10.7 | They both, and this is fundamental, have all Airbus A320 series aircraft. |
| 2:21.5 | They have strengths in different parts of the world, |
... |
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