How low can the easyJet share price go?
Despite this, the airline’s share price is still ahead of the FTSE 100 over the last year, during which it’s risen by 16%, compared to just 3% for the blue chip index. I also want to consider a smaller aviation stock with ambitious growth plans and a big cash pile. The airline has been restricted by an “inefficient inherited schedule” at Tegel this summer, and has focused on protecting its flight slots and building market share. Earnings are expected to rise by a further 17% in 2018/19, cutting the P/E to 10. Although Brexit could disrupt airline operations next year, I suspect a solution will be found to prevent this.