Confident European carriers influence share bounce back

As countries like Spain and Italy now look to have the COVID-19 pandemic under control and death tolls easing, both easyJet and Ryanair, Europe’s top-two low-cost carriers, have both issued strong statements about the near future of air travel once travel bans have been lifted.

Shares in easyJet rose 6.2% after it announced it had sufficient cash reserves to cope with a lengthy grounding of its entire fleet. Ryanair announced that it has prepared itself for an airline price war it expects to win once tourist destinations once again become popular.

The pan-European STOXX 600 index added 1 per cent, rising for the sixth time in seven days.

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