Shares in EasyJet (EZY) have jumped 57% over the past three months, however they are still trading 60% below their pre-pandemic high.The company seems to be forging ahead having been the subject of takeover bids from rivals British Airways-owner International Consolidated Airlines (IAG) in 2022 and low-budget airline Wizz Air (WIZZ) in 2021.

In its recent first-quarter trading update, it cited strong booking momentum for lifting its performance by £80 million year-on-year.

This momentum is set to continue into the second quarter of 2023 as hard-pressed consumers continue to prioritise spending on holidays after being unable to get away during the pandemic.

Passenger growth rose 47% year-on-year with demand coming from the UK. EasyJet also announced 11 new routes to popular destinations.

Johan Lundgren, CEO of EasyJet, says: ‘Many returned to make bookings during the traditional turn of year sale where we filled five aircraft every minute in the peak hours, which culminated in three record-breaking weekends for sales revenue this month.’

EasyJet hopes to beat current market profit expectations for full-year 2023.

In February, analysts at Deutsche Bank shifted to a more positive stance on the shares on a brighter outlook for its core UK market.

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