it is easyjet and _ airline losing money. it is easyjet and a _ airline losing money. is easyjet and a relatively stable position when you compare it to some rivals? it position when you compare it to some rivals?— some rivals? it is certainly a stronger— some rivals? it is certainly a stronger carrier, _ some rivals? it is certainly a stronger carrier, not - some rivals? it is certainly a | stronger carrier, not because of raising large amount of liquidity. i would say ryanair is one of the strongest in terms of cash reserves, in terms of cash reserves, in terms of cash reserves, in terms of their ability to operate a large number of flights, they have a diverse network, but it is still one of the leading carriers in europe. comparing to those other two carriers, there is a big cost difference. they are still expanding while easyjet is shrinking, they have reduced their fleet size, so that is giving another challenge, deciding whether they should fly, deciding whether they should fly, where they should take opportunities available. they have had to do a pinching from p

we will be speaking with easyjet ceo. we heard members from easyjet and just out the numbers. once again not providing any financial guidance for 2021 despite the fact we now know about the third headline pretax. 318 million pounds, a smaller loss that had been anticipated by some and easyjet describes the performance in line with their forecasts. a lot of very last-minute changes in government policy wreaking havoc. the billionaire space race continues as bezos follows princeton and is due to blastoff the on earth in the coming hours. we will look ahead to that launch. up next, we tied back into the market action. european futures pointing to the upside after the retreat from global stocks. our guest to joins us, next. if you have any questions for our guests, send them to us. that is the function to use. this is bloomberg. ♪ anna: welcome back to the european market open. 45 minutes to go until the start of cash equities trading. down by more than 2% in many of the major markets, all of the major markets in europe. we see some green on the screen this morning. futures point

easyjet, earlier on negative. now bouncing back. easyjet up 1.7%.ut of the u.k., which is positive in terms of allowing u.k. travelers to go on holiday over the summer. there was negative news out of france earlier suggesting travelers should not go from france to spain and portugal. the u.s. sector has come back, so has the european sector. easyjet up 1.7%. a tier one supplier in the auto industry, there has been talk of consolidation. that is not happening. earlier on we saw some positive news around this, now negative. then we come to the car sector more broadly, what is happening with his ev transition. so landis down 2.3%. a big day. what i do know is they will be investing significant amounts of money in the ev transition. what brands are we talking about? this is a huge company, bringing together huge number of brands. talking about dodge, talking about sphere, all of these companies coming together. it'll be interesting to see how the evolution of those france works and how the ev transition will work in america and in europe. let's talk mor

we have easyjet figures coming out as well. market going to be paying attention to when we get those results? >> we want to see how the travel business is doing because we need those reassuring earnings in the market that is becoming a little out that more jittery. we have seen peak growth in the economy and travel sector, one that is weighing on europe's equity markets. it can provide some assurance here that is not as bad as some are fearing and it should help the overall market i would guess. dani: thank you so much. definitely lots of earnings data to be looking through today. jp morgan it from our bloomberg equity team. do not miss our conversation with the ceo of ubs in just a few minutes. of course, we will also be speaking with the ceo of easyjet in the next hour after that so stay tuned for all of our earnings coverage. it is not just earnings. let's take a look at the other events we will be watching today. at 11:45 london time, we have the u.k. business echo terry appearing before a government committee, giving evide

easyjet saying today that demand in its u.k. home market does remain depressed.he ceo spoke to bloomberg's anna edwards earlier today. >> capacities are increasing. we do see that demand is coming through, particularly in mainland europe, so we have about 2/3 of the booking and sales intake we have today that is really coming from mainland europe. alix: meanwhile, the u.s. advising americans not to travel to the u.k. because of that rise in covid infections. let's see if someone of can help us understand what is going on. scott rosenstein, the eurasia group global special advisor, joins us now. the delta variant is running rampant in the u.k. then you have the u.s. getting concerned, europe also concerned about the u.k. now you are seeing all of the ramifications. is europe just a few weeks behind the u.k.? is the u.s. just a few weeks behind europe? scott: i think this will be a summer of confusion and inconsistency. there was optimism that the highly vaccinated countries would have a relatively normal summer come with clear parameters for international travel,

and the chief executive, easyjet said unnecessary testing, still in place and more needs to be done. we won't, we don't want to see the return of flying being the present of rich. i'm pretty sure was chief executive, sean doyle said the government to quickly extend this to all vaccinated passengers and agree a reciprocal deal with the united states and the heathrow boss, john holland kay said that the case should open up fully to vaccinated people from more countries particularly our key partners in the u. s. so the fact that this is just u. k. residents returning home is a source of some asked. there's also about the potential cues that are going to build up with this extra paperwork necessary. the passenger locates a form for example, and now that the need to prove negative passport states as vaccination, passport there's already been big cues at u. k. airports. the fear is that they could, they could be extended and become really quite serious and burdensome. and the other thing is the possibility that a variance may be created essentially a new variance as yet discovered by allow

and he quoted the boss of easyjet to highlight the unhappiness of the travel industry at large.nd that the government, and i quote, "is making it up as they go along, causing confusion and uncertainty. " the travel industry was promised a rescue deal, but it never revised. they were promised corridors and bridges — that didn't happen either. it's vital now that we take the actions needed, get their house in order, and get this important industry the support that it needs. the government defended its changes, saying public health remained its priority. that's why on friday, the government took the decision to exempt france from the new arrangements for fully—vaccinated people returning to england. this decision was taken after concerns were raised by the joint bio—security centre over the persistent presence of cases in france of the beta variant, which was first identified in south africa. but conservative mps were lining up to criticise the move. why did the government move so quickly to change those rules? i i think that message i really needs to be key. and secondly, why was

ryanair, easyjet and jet2 have said that despite today's announcement, all passengers will still be requiredect the health of passengers and crew, and will be mandatory regardless of where the flight is to and from. they will continue to be guided by in—house medical advisers and industry regulators. germany has lifted its ban on travellers from the uk entering the country. from wednesday, people who've had both vaccine doses won't have to quarantine. the changes also apply to people travelling from portugal, russia and india. the end of social distancing in england's pubs and restaurants means a return to drinking at the bar without the requirement for table service. nightclubs will also reopen. the hospitality industry has been hit hard by the pandemic and has welcomed today's announcement, though some staff are worried about working in a crowded environment without face masks. 0ur north of england correspondent danny savage reports. another busy lunchtime at the bull inn in north yorkshire. staff are wearing facemasks, customers have to register, it is table service only and all at a safe

we will talk about that, and look ahead to the results of easyjet, as it tries desperately to get driversanother hot and sunny day for the majority of us, but there were a few storms that popped up. one or two affecting sussex and kent, there were a few storms in south wales for a time and there was one in the veil of york but otherwise we have skies like these can be the majority of us having dry, sunny and hot day. and talking of heat, the met office have issued their first extreme heat warning. why now? well, these warnings only started being issued injune and this is just the first hot spell we have seen. but this area, it represents an area of concern to the met office where we could see some impacts from the heat whether that be impacts to health or indeed infrastructure, things like trains might need to go slightly slower due to the tracks heating up in this hot weather. at the moment there's not too much going on, it's a clear start to the day tuesday and of course it has been very warm overnight, those temperatures starting off tuesday morning at around 16 degrees across parts of

easyjet says after the government's announcement, bookings were up 400%.osts, because travellers have to pay for covid tests before and after their return. also, they will still have to quarantine if they have been jabbed still have to quarantine if they have beenjabbed outside they have beenjabbed outside the uk, and rules may be different in northern ireland, scotland and wales. some have questioned why travel restrictions are easing now, just as the number of coronavirus cases in the uk are soaring. it is the highest in europe. but cases are starting to rise thereto, particularly in popular holiday destinations like spain, portugal and greece. that could mean sudden changes to travel rules imposed by other countries. also, whatever the uk nations decide, number of countries like allow uk travellers in still allow uk travellers in without a period of isolation. and some amber countries won't let uk holidaymakers in at all. and as you saw in that report, in about half—an—hour we will be speaking to the boss of skyscanner, stephanie boyle. if you have any

easyjet, down by 4%. iag down by 4.4 percent.f france being the start of something? we have a special category for france which is amber. with special conditions around quarantining attached, the previously known south african variant is hanging on in france despite competition from the delta variant. that is what we are seeing in the markets today. let's get a bloomberg business flash. laura: bill ackman's company says it will no longer proceed with a $4 million deal for universal music after u.s. regulators raised concerns. the firm says that shared purchase agreement be transferred to pershing square and the group will try to find another buyer. zoom has agreed to purchase five9. in its largest ever acquisition. the deal aims to boost videoconferencing up against stiffening competition. the deal is subject to shareholder approval. tsmc's founder has warned that cost could go up and still fail to achieve self-sufficiency. morris chang says free-trade remains the best system to fulfill global demand. facebook is pushing back aga

easyjet says, after the government announcement, bookings were up 400%. it's not plain sailing yet.ts because travellers have to pay for covid tests before and after their return. also, they'll still have to quarantine if they've been jabbed outside the uk, and rules may be different in northern ireland, scotland and wales. some have questioned why travel restrictions are easing now, just as the number of coronavirus cases in the uk is soaring. it's the highest in europe. but cases are starting to rise thereto, particularly in popular holiday destinations like spain, portugal and greece. that could mean a sudden changes to travel rules imposed by other countries. also, whatever the uk nations decide, a number of countries like italy still won't allow uk travellers in without a period of isolation. and some amber countries won't let uk holiday—makers in at all. aruna iyengar, bbc news. the transport secretary grant shapps, has said that the government was no longer "encouraging nor discouraging" people to travel to amber list countries for holiday purposes. we're saying that, you kno

the boss of easyjet — johan lundgren — issued a statement saying...esperson said the announcement — so close to the school holidays — "will ruin summer for many people". and the ferry operator dfds said the news "came as a surprise" and that "it is disappointing that services are not opening up totally to everyone as we all would have liked." let's get more on this from our political correspondentjessica parker. we have just heard from france where the prime minister has said that france is reinforcing restrictions on travellers from a number of countries to counter an increase in cases in those countries, so from tomorrow, sunday, july 18, nontax and 80 people coming from the spain, portugal, the netherlands and greece will need to present a covid test dating from at least 2a hours before travel to enter france, currently they can date for uk travellers, 72 hours for the other countries we have just mentioned hours for the other countries we havejust mentioned —— have just mentioned —— non—vaccinated havejust mentioned —— non—vaccinated people. in or

airline easyjet says bookings to those countries are up a40% compared with last week.n traffic in the hours following the announcement. stephanie boyle is from skyscanner. welcome, and thank you for joining us. tell us what impact you have seen over the past two hours since this announcement was made?— was made? absolutely. it has been an amazing _ was made? absolutely. it has been an amazing positive - was made? absolutely. it has| been an amazing positive step for the travel industry, and we are delighted to see that this is converting to interest immediately. we saw a 53% increase in traffic from the uk compared to the same day before, and that was just in the first hour following the announcement. so we know the demand was there, but it is great to see it converted into actual traffic and people making bookings right away. what impact is that had on prices? are they skyrocketed? no, this is the great thing about pricing. in a traditional year pricing is pretty predictable. you can look at what seasonality will be there and that will inform pricing. but they are ver

a major tour operator, easyjet and jet2, say spain is a hot destination.gary, a holiday is back this weekend? :: :: :: :: behind. gary, a holiday is back this weekend? "pi: :: :: :: . , ., , ., weekend? 1130 5000 customers that we are takin: weekend? 1130 5000 customers that we are taking overseas _ weekend? 1130 5000 customers that we are taking overseas from _ weekend? 1130 5000 customers that we are taking overseas from the _ weekend? 1130 5000 customers that we are taking overseas from the uk - weekend? 1130 5000 customers that we are taking overseas from the uk to - are taking overseas from the uk to 80 green and amber destinations. while the numbers are still small in comparison with the normal year, at least it feels a bit normal to the people who managed to get away to those beach destinations that they haven't been able to visit in many, many months. the haven't been able to visit in many, many months-— many months. the slight inconvenience, _ many months. the slight inconvenience, it - many months. the slight inconvenience, it has - many months.

and major tour operators, tui, jet2 and easyjet said spain is still our top destination, with alicantea and majorca the hot spots. greece comes closely behind. gary, are holidays back this weekend? do you know what, it's a great weekend for travel this year. we've got 135,000 customers that we are taking overseas from the uk to 80 green and amber destinations. it's our busiest weekend this year so far and not the third and last weekend. so, while the numbers are still small in comparison with a normal year, at least it feels a bit normal to the people who are managing to get away to those beach destinations that they've not been able to visit for many, many months. richard murphy took his family to majorca last week, as soon as quarantine rules changed. it'sjust having a time together, so the slight inconvenience or the hassle we've had, has 100% been worth it, it's been fantastic. i'd recommend it to anybody coming out. we've just been down to the front in valencia, we did a 15 minute covid test and got the all clear, had a glass of aperol spritz, came back, put the rose on ice, and l

easyjet leans heavily on what is happening with the offset story and you wonder whether that is sustainableave the narrative with the delta variant. that continues to be a big challenge for the sector. alix: absolutely. analyst citing ryanair also being exposed to those rules. deadly riots in south africa continue for a fourth day. the former president scaling on contempt of court charges. we are joined from johannesburg. explain to us the trigger. yes the jailing of zumba was one. there are so many other factors that led to this point. describe what it is like on the ground. >> thanks for having me. as we mentioned there are a number of challenges ongoing. i think covid-19 exacerbated that situation. unemployment has arisen in a massive way. over the past few weeks we have had more lockdown restrictions, restaurants have been closed, alcohol has been banned. the matter of inequality and people needing access to food, the rest of the former president was the catalyst. it was just a matter of time before things got to the point where people had to take to the street. guy: let's talk about th

easyjet down by 5.8%, carnival down 7.2%.irlines in america down more than 20% from the highs a number of months ago. it has not been pretty for these travel stocks. tom: no, and it is the covid worry over the weekend. on the other side, as carl weinberg partitioned out america, we have tech earnings coming up in a few days. jonathan: netflix this week, then it starts to pick up next week. let's bring in matt maclennan, first eagle coed of global value -- cohead of global value. just walk me through your thinking now. matthew: the banks have these large deposit flows that haven't been earning much with interest rates so close to zero. they had done pretty well as interest rates had backed up here, but as you point outcome of the flattening of the curve makes it more difficult for sentiment. i think the key is to step back from trying to protect where the bond market is going to go and identify those banks that have sustainable earnings power not linked to their balance sheets. tom: good morning. tom keene in new york. first e

easyjet as well down 3.36%.ou what is happening with some of those travel and leisure stocks. the delta variant continues to be a cause for concern. the numbers climb in europe. the summer is looking more and more difficult. alix: we have some breaking news in the u.s.. broadcom is reportedly in talks to buy software from sas according to dow jones. initially broadcom fell 5% but then recouped some of their losses. value sas was privately held in a 15 to $20 billion range. it is an i.t. management company , it is analytics and services. this would be a double down for the software firm, for broadcom. we will keep an eye on any headlines as they cross. let's pick off where guy left off on the delta variant. drew armstrong, bloomberg health care editor, joins us now. where are we in terms of the delta variant and how countries can manage it? drew: this is becoming the dominant variant of the virus. it appears to be more transmissible. unclear if it is more dangerous. it is hard to judge. you combine that with the

as it is direct result, easyjet cancelled routes that would have connected a whole bunch of scottishoser to home. rejoice, rejoice, this is a much-needed shot - closer to home. rejoice, rejoice, this is a much-needed shot in i closer to home. rejoice, rejoice, | this is a much-needed shot in the this is a much—needed shot in the arm for those who have had two shots of the vaccine in their arm and for an industry and workforce who have been laid low during the pandemic perhaps more than other boats have always been steadfast in their belief that we can all travel safely again, so in welcoming this announcement, coming ask the secretary of state to also keep an ion the testing regime? we know for the last couple of months, those who have come back from aberdare, very few have tested positive, so perhaps can we look at the testing costs? they are still a barrier. it would be better if lateral flow could be used rather than pcr and that those who do test positive could then use a pcr test. those ideas, i would look for the secretary of state to keep championing and would he make sure the

. _ ryanair and easyjet have said that despite today's announcement, all passengers will still be required mandatory regardless of the where the is to and from. they will continue to be guided by in—house medical advisers. as you've already heard, the end of social distancing in pubs and restaurants in england — along with needing to use a qr code to check—in — means a return to drinking at the bar without the requirement for table service. the hospitality industry has been hit hard by the pandemic and has welcomed today's announcement — though some staff are worried about working in a crowded environment without facemasks. our north of england correspondent danny savage reports. another busy lunchtime at the bull inn in north yorkshire. staff are wearing facemasks, customers have to register, it is table service only, and all at a safe social distance. but in two weeks' time, all those restrictions go. a bit scared, really. commercially fantastic, let's just go back to normal. gill runs the pub, but does she trust the public to act responsibly? there is a big section of the community, par

they've adopted a different strategy to easyjet. - a different strategy to easyjet.l businesses who are launching legal action against the uk government. where is that at at the moment? ~ ., ., , , ., moment? well, that has been thrown out, unfortunately, _ moment? well, that has been thrown out, unfortunately, because- moment? well, that has been thrown out, unfortunately, because quite - out, unfortunately, because quite frankly, the government has been woeful in the united kingdom, lack of leadership, no understanding or empathy with the travel industry, thousands ofjobs at risk, and have yet this is an island economy. we can't all walk on water, like you and i can, sadly, so it is going to be very difficult, and the government is frankly that of the industry down. in government is frankly that of the industry down-— industry down. in terms of the traffic light — industry down. in terms of the traffic light system, _ industry down. in terms of the traffic light system, there - industry down. in terms of the traffic light system, there is i industry down. in terms

several uk airlines, including ryanair, easyjet and jet2 have said that despite today's announcement, from. they will continue to be guided by in—house medical advisers and industry regulators. as you've already heard, the end of social distancing in pubs and restaurants in england, along with needing to use a qr code to check in, means a return to drinking at the bar without the requirement for table service. the hospitality industry has been hit hard by the pandemic and has welcomed today's announcement, though some staff are worried about working in a crowded environment without face masks. our north of england correspondent danny savage reports. another busy lunchtime at the bull inn in north yorkshire. staff are wearing facemasks, customers have to register, it is table service only, and all at a safe social distance. but in two weeks' time, all those restrictions go. a bit scared, really. commercially fantastic, let's just go back to normal. gill runs the pub, but does she trust the public to act responsibly? there is a big section of the community, particularly when they get a

airlines uk, the random rule changes make it impossible for travellers that make easyjet's executivet but the difference between _ be made. i understand that but the difference between domestic- be made. i understand that but the difference between domestic rules| difference between domestic rules and international rules are opposite to each other. i do not understand how we can impose fully vaccinated people from france to have two quarantine for ten days. people in england who are not vaccinated, whether the beta variant is present or not, it being encouraged to not wear masks, stopped social distancing, it doesn't seem consistent. if there was a policy continuing, it would be easier to understand. but i think these contradictions are making it harder to accept. contradictions are making it harder to acce t. ., contradictions are making it harder to accet. ., ., ., ., ., to accept. you are meant to travel on august — to accept. you are meant to travel on august 20. — to accept. you are meant to travel on august 20. you — to accept. you are meant to travel on august 20, you have _ t

easyjet says, after the government announcement, bookings were up 400%. it's not plain sailing yet.l be extra costs because travellers have to pay for covid tests before and after their return. also, they'll still have to quarantine if they've been jabbed outside the uk, and rules may be different in northern ireland, scotland and wales. some have questioned why travel restrictions are easing now, just as the number of coronavirus cases in the uk is soaring. it's the highest in europe. but cases are starting to rise thereto, particularly in popular holiday destinations like spain, portugal and greece. that could mean a sudden changes to travel rules imposed by other countries. also, whatever the uk nations decide, a number of countries like italy still won't allow uk travellers in without a period of isolation. and some amber countries won't let uk holiday—makers in at all. aruna iyengar, bbc news. we'll be speaking to transport secretary grant shapps at 7.30am. you secretary grant shapps at 7.30am. might want to g you you might want to get in touch if you have any issues, i know it

the boss of easyjet, johan lundgren, issued a statement saying: that sentiment was echoed by willie walshinternational air transport association, who said: a eurotunnel spokesperson said the announcement so close to the school holidays "will ruin summer for many people". and the ferry operator dfds said the news came as a surprise and that it is disappointing that services are not opening up totally to everyone as we all would have liked. bulgaria has banned people from the uk travelling there because of the rising number of covid infections. the ban will come into effect on monday, the same day the country joins the british government's green travel list. hundreds of people are still missing following floods across large parts of western europe. at least 128 people have died after heavy rainfall caused severe flooding in germany, belgium and the netherlands. 0ur correspondent anna holligan has the latest. as the water gradually subsides, the number of people confirmed damp continues to rise. in germany, many are still missing. tens of thousands of homes are waiting for the power to be re