Shares in British low-cost airline EasyJet rose to near one-year highs today after strong April passenger numbers and a broker upgrade offset concerns over low fares and fuel costs.
The carrier said passenger numbers rose 25.2 per cent in April from a year earlier to 2.44 million - more than some analysts expected, as the figures excluded the busy Easter break which fell in March this year.
EasyJet shares rose 3.2 per cent to 239-1/2 pence just off February's one-year high, as the stock claws back from heavy losses a year ago following a profit warning and fears of a consumer slowdown.
The airline said its April load factor - an indication of how many seats it has filled on flights - was 85.2 per cent, 3.6 percentage points higher than a year earlier.
Ryanair last week reported a 24 per cent jump in passengers in April. British Airways said last week April traffic was near flat because the timing of Easter drove down leisure travel, although first and economy class business soared.