Easyjet CEO says BA plan for Gatwick not ‘something we will lose sleep over’

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Esizet today stressed that the recovery is “ongoing” even though it has predicted losses of more than £1.1 billion for the year from September.

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It insisted it was not concerned about rival BA’s plans to start a short-haul hub at Gatwick.

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CEO Johan Lundgren said: “We’ve proven that we can compete against any airline. We’ll have to wait and see what they do. It’s not something we’ll lose our sleep over.” “

There is a “speed” in bookings, which is double what they were a year ago.

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A move last year to lift travel restrictions at several destinations saw a jump in air and travel stocks last week. All airlines say that there is a competition to book flights and holidays.

Lundgren said: “EasyJet grew its flight significantly during the quarter, which meant we were operating the second largest airline in Europe this summer, while halving our Q4 losses compared to last year “

He said: “It is clear that recovery is underway. Business travel is returning to easy jet with corporates and SMEs attracted by our value, network and sustainability approach. We have seen that with the increasing demand for leisure travel from customers. City breaks are beginning to return for flights and holidays to popular winter sun destinations, including Egypt and Turkey.

EasyJet had earlier completed a rights issue worth £1 billion, which strengthens its balance sheet. It also defended an acquisition bid from smaller rival Wizz Air.

Easyjet shares are up more than 50% in the past 12 months. Today they open at 648p.

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