iNVEZZ.com, Monday, February 17: Italy’s anti-trust authority has fined budget carriers (LON:EZJ) and Ryanair (LON:RYA) €200,000 (£164,000) and €850,000 (£696,000), respectively, for using unfair commercial practices in persuading passengers to buy travel insurance.



easyJet’s share price has climbed about one percent in London so far today while Ryanair’s share price has shed just under one percent.

**easyJet and Ryanair fined more than €1 million**

The Italian Competition Authority said today in a statement that it had fined Ryanair and easyJet more than €1 million in total for the lack of transparency in travel insurance policies offered during the online purchase of air tickets as well as for obstacles created in the case of refund.

A lesser fine was imposed on easyJet with the Italian regulator noting that the company had already modified some of its booking practices. Ryanair however was fined €850,000 and given 30 days to respond about how it intended to make its procedures more consumer-friendly.

The Times quoted easyJet as saying that it was ‘disappointed’ by the fine.



“All of the issues raised in the decision have already been remedied in consultation with the AGCM [Italian regulator] and our insurance partner Alliance,” the airline said, adding that it would “examine the decision and review its options”.

A Ryanair spokesman told The Times that the company had noted the ruling “and while we disagree with its findings and have instructed our lawyers to appeal, we will be amending our website accordingly”.



**Budget airline announces deal with BCD Travel**

The company said today in a statement that it had struck a deal with Netherlands-based travel management company BCD Travel to extend the low-cost airline’s offerings among corporate travellers through BCD Travel’s global network.

“We’re absolutely delighted to sign this new partnership with BCD Travel in Europe,” easyJet European Sales Director Toby Joseph said in the statement. “It’s yet another indication of the significant progress we have made developing our corporate travel services over the last couple of years.”



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The companies have not disclosed the financial details of the deal.

**Analysts on easyJet**

Analysts at Natixis last week reiterated their ‘buy’ rating on easyJet with a price target of 1,950p. Earlier this month, Goodbody Stockbrokers reaffirmed the low-cost airline as a ‘buy’ without specifying a price target, while HSBC reiterated its ‘underweight’ rating on the stock with a price target of 1,600p. Also this month, Barclays reiterated its ‘overweight’ rating on easyJet with a price target of 1,845p.

easyJet currently has an average ‘hold’ rating and a consensus price target of 1,526.50p.

**As of 13:04 UTC, buy easyJet shares at 1729.00p.**

**As of 13:04 UTC, sell easyJet shares at 1728.00p.**

**As of 13:04 UTC, buy Ryanair shares at €7.35.**

**As of 13:04 UTC, sell Ryanair shares at €7.34.**