EasyJet raises £1.2 billion to 'accelerate' Covid recovery

The carrier issued slightly more than 300 million new shares earlier this month at £4.10 each, and revealed on Tuesday (28 September) uptake among existing shareholders was around 93%.

"The success of this capital raise, thanks to great support from investors, will enable easyJet to strengthen its balance sheet and accelerate its post-Covid-19 recovery plan," said easyJet chief executive Johan Lundgren.

"Importantly, it will position us to take advantage of strategic investment opportunities across our markets which will arise as we move into this period of recovery from the pandemic."

Lundgren said easyJet had been "disciplined and decisive" in efforts to maintain its balance sheet, while also managing its fleet to meet the realities of the pandemic and customers’ needs.

"This will allow us to emerge from the pandemic with renewed strength, positioned as a structural winner in this rapidly evolving sector," Lundgren added.