Airline shares soar despite Easyjet posting €1bn loss

EasyJet has posted a maiden annual loss of nearly €1bn and has effectively written off any recovery in business until the second quarter of next year at the earliest

Airline stocks continued to rally despite Easyjet reporting a maiden annual loss of nearly €1bn and effectively giving up on any recovery until at least the second quarter of next year.

Ryanair, Aer Lingus owner IAG, Lufthansa, and Air France-KLM all rose, as did Easyjet itself, despite posting a full-year loss of $845m (€927m) for the 12 months to the end of September.