EasyJet cuts winter losses, says demand builds for summer

Consumers in Europe are continuing to spend on trips despite rising fares and their incomes being squeezed by higher interest rates, and EasyJet chief executive Johan Lundgren said there was"positive momentum" going into the key travel season.

Shares in easyJet traded up 4% this morning, but at 538 pence the stock is a long way off pre-pandemic levels of 1,300 pence, as worries linger over how long travel spend can keep rising. "We reallocated into destinations where we believe that there would be strong demand going forward," Lundgren said of that decision.

In the Middle East region, EasyJet also flies to Egypt and Turkey, and Lundgren said there had been no impact on bookings to those countries.

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