easyJet appoints new finance director, shares fall

An Easyjet aircraft in Geneva, Switzerland.

easyJet (LON: EZJ) has appointed a new finance director, as the budget airline struggles amid the impacts of Coronavirus.

Kenton Jarvis from Tui will replace Andrew Findlay, who resigned in May.

John Barton, Chairman of easyJet, commented: “We are delighted to appoint Kenton as our next Chief Financial Officer. He is a candidate of very high calibre bringing with him vast industry experience and highly relevant skills to the role which will prove crucial in the coming months and beyond.

“I would like to welcome him on behalf of the board of easyJet. I would also like to take this opportunity to thank Andrew Findlay for his tremendous contribution over the past five years and continued commitment and support in helping manage the airline through the recent unprecedented challenges,” he added.

Kenton Jarvis said: “I am excited to be joining the most innovative, sustainable and customer-focused airline in Europe at such a pivotal moment in the history of the sector. I have great admiration for the team at easyJet and am proud to be joining them.”

easyJet shares fell on Friday’s opening as travel stocks took a hit amid fears of a second lockdown. British Airways owner, IAG, was the worst hit on Friday morning as shares plummeted 8%.

easyJet has continued to cut flights amid new quarantine rules. In May, the company said it would axe 4,500 jobs as part of cost-cutting measures.

easyJet shares  (LON: EZJ) are currently trading -7.03% at 552,40 (1032GMT).