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Literature review - Essay Example

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LITERATURE REVIEW Table of Contents Table of Contents 2 Introduction 3 Company Overview 3 Business Description 3 Company History 4 Company Management Structure and Corporate Governance 5 Business Strategies 6 Financial Performance Review 7 Conclusion 8 References 10 Introduction EasyJet plc is a well known low cost airline company operating in Europe…
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Download file to see previous pages The next part, talks about the business structure and the major products and services offered by the company. The company history has been also reviewed highlighting the major achievements of the company over the past years of its business operations. The existing management structure and the corporate governance mechanisms followed by the organisation have also been studied. The business strategies followed by the company and its financial performance in the recent years have also been reviewed in this report. Company Overview EasyJet plc is a UK based organisation which operates its business in the airlines industry. The company is headquartered at Luton, UK and was founded in the year 1995. The airlines operations of the company includes 600 routes and offers its services to around 130 airports located in 30 countries all around the world (easyJet plc, 2012). Apart from carrying passengers the company is also engaged in the business of leasing and trading aircrafts. It has been estimated that the total fleet of aircrafts of the company included around 200 aircrafts as on 24 August 2012. The shares of EasyJet are publicly traded in the London Stock Exchange (LSE) with the ticker symbol “EZJ” (Yahoo Finance, 2012). Business Description Airlines services are offered by EasyJet plc within Europe. The company runs its business along with its subsidiaries at point-to-point routes on short-haul basis. The company is found to operate across 130 airports spread over 130 countries and has more than 580 routes at present. The company operated fleet mainly consists of Airbus aircraft and some Boeing aircrafts as well. The engines of the aircrafts flown by EasyJet plc are supplied by (International Aero Engines) IAE and CFM international. The maintenance of engines and the aircrafts are mostly undertaken by Virgin, SRT, GE, Aeroton, MTU, Lufthansa Technik, and BF Goodrich. Aircrafts are also obtained on lease by EasyJet provided by various organisations like BOC Aviation, AWAS, GECAS, Royal Bank of Scotland, Nomura Babcock & Brown, Santander, and Sumisho. Purchase of aircrafts by EasyJet plc is mainly financed by the financial institutions like Bank of Tokyo-Mitsubishi, Alliance & Leicester, BNP Paribas, HSH Nordbank, Caylon, KfW, PK AirFinance, Natixis, Sumitomo Mitsui Banking Corporation, Royal Bank of Scotland, and WestLB. The major insurers of the company include La Reunion, Global, Canada Life, AIG, QBE, Houston Casualty, and Chubb. EasyJet Switzerland and EasyJet Airline Company Ltd. are the two subsidiary companies of EasyJet plc who are engaged in airlines operations. The aircraft leasing and trading activities are carried on by the other subsidiaries of the company like EasyJet Sterling Ltd., EasyJet Aircraft Co. Ltd., and EasyJet Leasing Ltd. Apart from scheduled airline and in-flight services, the other associated services offered by EasyJet includes online reservations, hotel rooms and car hire facilities. Company History Stelios Haji-Ioannou is attributed to be the founder member of EasyJet and his objective of setting up this company was to offer low cost scheduled airlines within Europe. The first aircraft that was wholly owned by the company was provided in the year 1996. The company’s website was launched in the year 1997. Since its inception the company continued to expand its operations all over Europe and started implementing various acquisitions ...Download file to see next pagesRead More
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