According to aviation analysts, this may be an indication that the low-cost airline is eyeing competitor Norwegian, reports E24.

The 3 billion should be put in relation to the fact that the company currently has a total of 977 million pounds at its disposal, including a cash balance of 396 million pounds.

The fact that Easyjet is choosing to raise an amount well above its current liquidity, without specifying what the money will be used for, could mean that the company is planning a potentially larger investment. According to aviation analysts, takeover rumoured Norwegian could possibly be on Easyjet's radar.

”"Easyjet was on my list of current bidders for Norwegian and the suspicion was strengthened by chairman Bjørn Kise's statements where he said that Brexit and competitive conditions could play a role. It made me think of Easyjet and Gatwick Airport," says aviation analyst Hans Jørgen Elnæs at WinAir to E24.

Norwegian and Easyjet are major players at Gatwick Airport with many valuable slots (landing and departure rights), and Brexit has previously been highlighted as a risk factor by Easyjet.

Bjørn Kjos has said that five players were interested in Norwegian after British Airways owner IAG announced its interest in buying it last spring.

Norwegian is listed on the Oslo Stock Exchange on Wednesday. Just under half an hour after the stock exchange opened, the share is up 3.3 percent to just under 128.8 Norwegian kroner.

Earlier in the day, the airline presented passenger figures showing that traffic increased by 18 percent year-on-year in January. The cabin factor was slightly worse than expected while revenue per passenger kilometer was better than expected, according to the Reuters news agency.

Source: finwire