Travel Is Recovering, UK's easyJet Says After $1.5 Billion Loss

European travel is reviving and easyJet is increasing flights between now and December, the British airline said on Tuesday, after running up an annual loss of over 1 billion pounds during the pandemic, Reuters reported. For the autumn period, easyJet said that it would fly 70% of its pre-pandemic capacity, a jump from the 60% it had been aiming for only a month earlier, as demand for holidays surged, particularly in the UK where travel rules have been loosened. Winter sun destinations such as Egypt, Turkey and the Canary Islands were popular, business travellers were returning to the skies, and easyJet's chief executive said that capacity would keep growing over 2022. "It is clear recovery is underway," CEO Johan Lundgren said on Tuesday. The brighter outlook represents a turnaround from the last year when pandemic uncertainty and travel bans pushed easyJet to an expected headline loss of between 1.135 billion pounds ($1.54 billion)and 1.175 billion pounds for the 12 months to the end of September. The results, due to be confirmed on Nov. 30, will in the best case scenario beat a consensus forecast for a loss of 1.175 billion pounds. Read more.