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Sunday newspaper round-up: Capita, EasyJet, ZeroAvia

(Sharecast News) - The man brought in to turn around outsourcer Capita's fortunes sounded a far more chipper note in an interview. Since late 2017, the company has sold off large chunks of the business, while trying to position itself as a technology outfit in areas such as artificial intelligence and running chatbots for firms such as O2. Staff levels have been slashed from 73,000 to 52,000 and debt brought down to a level that is easier to manage. But the key change has been in the firm's corporate culture, according to Lewis. It now emphasises client relationships. Lewis also sounded a positive note on the outlook for the share price, predicting that it would be back at its pre-rights issue level in the next year or two. - Financial Mail on Sunday

Easyjet boss Johan Lundgren predicts that the disruptions to flights across the world in 2022 will eventually be seen as a "blip" with reliability set to return by next summer. He also claimed that flight cancellations and delays at the low-cost carrier had "stabilised" over recent weeks, although travel disruptions would continue until winter. Indeed, hard to predict factors in the sector's external environment meant that one could not guarantee an end to chaos heading into the summer holidays. Asked whether he feared for his job, Lundgren said "[...] you will have to speak to [chairman] Stephen [Hester] about that." - Sunday Times

Anglo-US start-up ZeroAvia is hoping to start deliveries of its hydrogen-powered engines for medium-sized airplanes as soon as 2024. The manufacturer is now focused on securing a site by the end of 2022 with potential locations including the south west of England and Wales. Bristol, where Rolls-Royce and Airbus already have sites, is one option. At first the engines will be capable of powering aircraft with 9-19 seats of capacity, but by 2026 ZeroAvia hopes to be able to power aircraft capable of transporting 40-90 passengers with larger regional jets set to follow by 2028. Among the company's shareholders are Alaska Airlines, United Airlines, Amazon's Climate Pledge fund and Shell. - Sunday Telegraph

The French government's nationalisation of energy giant EdF means it is now unlikely that the company will lead future nuclear projects in Britain, a top industry insider says. EdF is expected to continue participating in the development of Hinkley in Somerset and Sizewell C in Suffolk, both of which were still being approved by the UK government. However, the company's focus would now shift towards France. - The Financial Mail on Sunday

Army chief Lord Dannatt's audacious bid for the Ince plant, one of Britain's largest fertiliser plants has collapsed. The group of British investors, UK Nitrogen, pulled out of their bid after the US owner of the plant, CF Industries, rejected their final offer. According to the National Farmers' Union, the plant's closure will further cut global supply of fertilisers with the British Meat Processors Association warning the country's food supply chain would be left "vulnerable". However, both government and CF Industries have said that carbon dioxide supplies, whose uses range from surgeries to meat processing, were not at risk. - Sunday Telegraph

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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