EasyJet is set to return to the FTSE 100 next week almost four years after it dropped out of the index during the pandemic.
The airliner’s share price has risen by more than half since mid-October as it benefited from greater demand, higher prices and easing fuel prices.
In a trading update for the last three months of 2023, the company reported 14 per cent passenger growth year on year despite the onset of the Israel-Gaza war in early October leading to a temporary slowdown in flight bookings across the wider industry.
However, even after the rise, the company’s shares remain well below their pre-pandemic levels as it has faced competition from rivals Ryanair and Wizz Air.
The company will replace Endeavour Mining, which is set for demotion from the blue-chip index to the FTSE 250 in the quarterly reshuffle. This is according to indicative results released by index compiler FTSE Russell based on Tuesday night’s closing price.
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The Africa-focused gold miner’s shares have fallen by nearly a third since the start of the year following the dismissal of its former chief executive Sébastien de Montessus amid accusations, which he denies, of misconduct.
At the close of markets on Tuesday, easyJet had a market capitalisation of £4.2 billion while Endeavour Mining was valued at £3.1 billion.
