The peak of the run, an IPO and a hammer blow from the EC

EasyJet posted a 5.4% rise in traffic to 5.5m passengers in October 2013 for the last month, prompting relieved investors to send its shares up 0.9 per cent yesterday. In the year to October, easyJet was up 4% year on year at 61m passengers. However, what we have to remember is that easyJet shares are at this time riding high and are now somewhat overweight, after all they are now trading on a 2013 earnings multiple of 13.4 times – that is steep at 2.4 times the net asset value for the shares. Even if easyJet comes in on its