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easyJet flags 250% summer bookings surge in Holidays arm


easyJet PLC (LON:EZJ) said its Holidays arm has seen a 250% surge in summer bookings compared to last year, although 2020 doesn’t make a strong comparative.

Chief executive Johan Lundgren expressed confidence on the travel sector’s recovery once restrictions are lifted.

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“We know there is pent up demand – we have seen that every time restrictions have been relaxed, and so we know that people want to go on holiday as soon as they can,” he told the BBC.

“We have been pleased to see that some customers are making plans for their summer holidays now, with EasyJet holidays bookings for summer 21 up 250%, compared to the same time last year, and with May currently proving to be the most popular month for holiday bookings at the moment.”

The airline launched the new service in November 2019, with the first holidays starting in January 2020.

However, due to the pandemic, the segment did not really take off so it only brought in £18mln of revenue in the year to last September, generating a loss of £24mln and costs of £45mln.

Governments across Europe have implemented different travel restrictions, with the UK requiring a negative COVID-19 test result on arrival and a ten-day mandatory quarantine for inbound travellers.

Shares in the budget carrier rose 4% to 851.2p on Tuesday morning, 72% higher than the March trough but still 41% below last year’s levels.

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