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Airline shares 'undervalued': EasyJet chief

EasyJet chief executive Carolyn McCall believes airline shares are "undervalued at the moment" following reactions to the UK's Brexit vote.

McCall shared her view with reporters at the World Low Cost Airlines Congress in London on 8 September, citing falls in IAG's and EasyJet's own share prices in the wake of the 23 June referendum and noting: "Valuations are very low”.

IAG's share price at close of trading on 8 September was down 20% from that on 23 June, and EasyJet's was 22% lower.

McCall declined to comment on suggestions that EasyJet had in the meantime been the subject of a takeover bid by lessor AerCap, saying only: "It is not surprising that everyone's looking at everything... But that [takeover rumour] is speculation, I don't know where it came from and I wouldn't comment even if I did know."

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