EasyJet to make FTSE 100 comeback, replacing Endeavour Mining

An easyJet Airbus A320 approaches for landing in Lisbon at sunrise, Tuesday, Feb. 7, 2023.
An easyJet Airbus A320 approaches for landing in Lisbon at sunrise, Tuesday, Feb. 7, 2023. Copyright Armando Franca/Copyright 2023 The AP. All rights reserved
By Eleanor Butler
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British airline EasyJet is set to return to the UK's famed FTSE index after a rocky pandemic period.

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Four years after EasyJet's exit from the London Stock Exchange's top 100 index, the airline is on track to make a return.

This is according to indicative results released by index compiler FTSE Russell on Tuesday.

EasyJet is set to take the place of Endeavour Mining Plc, a London-headquartered multinational operating gold mines in Côte d'Ivoire, Burkina Faso and Senegal.

After suffering heavy losses linked to the Covid-induced freeze on travel, airlines have seen a recent rebound.

This upturn has been fuelled by increased demand, higher consumer prices, and easing fuel costs.

EasyJet has seen tough competition from rivals such as Ryanair and Wizz Air since the pandemic, yet its market capitalization is still £4.2 billion, around €3.9 billion.

This year's summer demand is also predicted to lift company profits.

According to travel data company OAG, European airlines will have 817.5 million seats available between April and October, the highest number on record.

The data company FactSet has estimated that in 2024, the six largest European carriers are expected to make adjusted operating profits of €10.5 billion, up from €9.2 billion last year.

The final FTSE review will be announced in a week's time, on 28 February.

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