EasyJet's annual losses have narrowed by 80 per cent after the airline posted record underlying earnings of £674million in the fourth quarter. Nearly 70 million people flew with the air carrier over the period, compared to 20.4 million last year when onerous Covid-19 restrictions severely depressed demand for overseas travel. In addition, sales were negatively impacted by the Omicron variant encouraging governments to reimpose travel restrictions and the enormous disruption that hit airports over the Easter period. Widespread staff shortages left airlines struggling to cope with the resurgence in passenger volumes earlier this year, causing mass delays and flight cancellations for millions of holidaymakers. Matt Britzman, an equity analyst at Hargreaves Lansdown, said: 'Demand looks to be resilient, despite obvious cost of living pressures.

Source: Daily Mail November 29, 2022 23:17 UTC