SHARE OF THE WEEK

EASYJET has had a turbulent time over the last few years, battered by lockdowns, travel restrictions, rising fuel prices and the cost of living crunch.

Even so, the budget airline said in October that its flights would be as full as they were pre-pandemic over the autumn half-term and Christmas.

On Tuesday, investors will find out if that was on the money as it unveils its full-year results. This, in turn, will be a barometer of its performance for the year to come.

Shareholders will also look at full-year losses, and whether they fall within a predicted £170m to £190m range, after a loss of £1.1bn last year.

It has already flagged a £64m hit due to foreign exchange losses, as the pound’s value slumped, and £75m of costs associated with summer’s disruption and cancellations.

‘A worse- than- expected showing on this front won’t be well received by the market,’ said Sophie Lund-Yates, analyst at Hargreaves Lansdown. As inflation hits spending power, eyes will be on forecasts for the year ahead, and whether it expects demand to weaken.

Lund-Yates said: ‘The group’s stronger brand and proposition hold it in a better position than others, but it’s still something to be mindful of.’

Russ Mould, at AJ Bell, said: ‘Shares are still barely above where they were ten years ago, thanks to lingering concerns about Covid, lofty oil prices, fierce competition, the war in Ukraine and the possibility that a recession will dampen consumers’ willingness to book holidays.’