EasyJet soars on revenue boost

Shares in EasyJet soared after a quarterly revenue rise showed the British budget airline had benefited as rivals struggled, in its first trading update under new boss Johan Lundgren.

The European airline industry was reshaped last year after British holiday carrier Monarch collapsed, Germany’s Air Berlin and Italy’s Alitalia went into administration and Europe’s biggest budget airline Ryanair scrapped flights due to pilot rostering issues.